Sweden’s consumer prices rose by 0.8% year-on-year in May 2026, in line with preliminary estimates and rebounding from a 0.1% decline in April. This was the highest inflation rate since October 2025, largely driven by higher energy costs, especially fuel (up 26.9% vs. 29.3% in April) and electricity (up 14.9% vs. 4.6%). These increases, in turn, pushed up housing and utility costs (2.6% vs. -0.1%) as well as transport prices (6.0% vs. 5.2%).
By contrast, food prices fell further (-6.2% vs. -5.7%), and inflation eased for clothing and footwear (0.7% vs. 1.2%). On a monthly basis, consumer prices rose 1.0% in May, the fastest increase since June 2023, after a 0.6% drop in the previous month.
The consumer price index with a fixed interest rate (CPIF), the Riksbank’s target measure, increased by 1.5% year-on-year in May, also confirming initial estimates. This represented an acceleration from April’s 0.8% gain, which had been the weakest rise since December 2020.
