🇸🇪Sweden inflation rate
Last updated 1 Jul 2026 · data through May 2026 · next release expected 17 Jul 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 1.1% as of May 2026. That is 0.9 percentage points below the Riksbank's 2% target, and 1.7 points below the eurozone average of 2.8%.
The breakdown shows core (excluding energy and food) at 1.1%, energy at 16.9%, food at -4.5% and services at 2.1%. The strongest pressure is in energy (16.9%), while food is the softest (-4.5%).
Month on month the headline rose from 0.5% to 1.1%, extending the climb.
Sweden ranks number 29 of 30 European economies by annual inflation, from highest to lowest, between Denmark and Switzerland.
Sweden's harmonised inflation is 1.1% as of May 2026 — belowthe European Central Bank's 2% target by 0.9 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 1.1% as of May 2026.
- Is Sweden's inflation above or below the Riksbank's 2% target?
- At 1.1%, it is 0.9 percentage points below the Riksbank's 2% target.
- How does Sweden's inflation compare with the rest of Europe?
- Sweden ranks number 29 of 30 European economies by inflation, 1.7 points below the eurozone average of 2.8%.
- Did Sweden's inflation rise or fall last month?
- Month on month, the headline rate rose from 0.5% to 1.1% in May 2026.