🇸🇪Sweden inflation rate
released 19 Aug 2026 · data through July 2026 · next release expected 31 Aug 2026
Sweden sits outside the euro area, with its own currency and central bank. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 0.3% as of July 2026. That is 1.7 percentage points below the Riksbank's 2% target, and 2.7 points below the eurozone average of 3.0%.
The breakdown shows core (excluding energy and food) at 1.4%, energy at 4.4%, food at -5.2% and services at 2.3%. The strongest pressure is in energy (4.4%), while food is the softest (-5.2%).
Month on month the headline eased from 1.0% to 0.3%, a step down from the month before.
Sweden has the lowest annual inflation rate of the 30 European economies tracked, just behind Switzerland.
Sweden's harmonised inflation is 0.3% as of July 2026 — belowthe European Central Bank's 2% target by 1.7 percentage points.
Compare with the rest of Europe on the European inflation ranking →
Frequently asked questions
- What is Sweden's current inflation rate?
- Sweden's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 0.3% as of July 2026.
- Is Sweden's inflation above or below the Riksbank's 2% target?
- At 0.3%, it is 1.7 percentage points below the Riksbank's 2% target.
- How does Sweden's inflation compare with the rest of Europe?
- Sweden ranks number 30 of 30 European economies by inflation, 2.7 points below the eurozone average of 3.0%.
- Did Sweden's inflation rise or fall last month?
- Month on month, the headline rate eased from 1.0% to 0.3% in July 2026.