Sweden’s consumer prices excluding energy (CPIF ex energy) swung back into positive territory in May 2026, rising 0.70% month-over-month, according to data updated on 11 June 2026. This marks a sharp turnaround from April 2026, when the indicator had fallen by 0.60% compared with March, signaling a brief deflationary setback in underlying prices.
The month-over-month comparison shows that underlying inflationary pressure, once stripped of volatile energy components, has strengthened notably between April and May. While April’s decline suggested a temporary easing in core price pressures, May’s rebound indicates renewed upward momentum in the broader price basket excluding energy.
Because the measure is assessed on a month-over-month basis, May’s 0.70% rise reflects how prices have adjusted relative to April, whereas the previous -0.60% reading captured the change from March to April. The reversal underscores a relatively volatile short-term path for core inflation dynamics in Sweden heading into mid-2026.
