Sweden’s annual inflation rate rose to 0.5% in January 2026, slightly above the preliminary estimate of 0.4% and up from 0.3% in December. This was the highest rate since October, primarily driven by higher prices for food and non-alcoholic beverages (3.2% vs. 3.7% in December), alcoholic beverages, tobacco and narcotics (2.9% vs. 2.4%), and clothing and footwear (0.4% vs. -0.5%).
At the same time, the decline in housing and utilities prices eased (-0.1% vs. -2.6%), largely due to higher electricity and rent costs. In contrast, prices fell for health (-4.9% vs. 2.8%), while inflation slowed in recreation, sport and culture (0.6% vs. 3.5%) and in education services (3.5% vs. 6.5%).
On a monthly basis, consumer prices increased by 0.1% in January, following a flat reading in the previous month. The CPIF, the Riksbank’s target inflation measure, rose 2.0% year-on-year and 0.3% month-on-month.
