Swedish Inflation Confirmed At 7-month High

(RTTNews) - Sweden's consumer price inflation increased as estimated initially in May to the highest level in seven months amid higher energy costs, the latest data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, rose 0.8 percent year-over-year in May, reversing April's renewed fall of 0.1 percent. Moreover, a similar inflation rate was last seen in October 2025. That was in line with the flash data published on June 4.

"We have noticed that fuel prices have risen since May last year and are the main contributor to the inflation rate this month," Caroline Neander, a statistician at Statistics Sweden, said.

Energy prices largely drove the inflation as fuel prices and electricity prices surged by 27.0 percent and 15.0 percent, respectively, in May compared to last year. Inflation based on transportation climbed to 6.0 percent from 5.2 percent, and housing and utility costs rebounded by 2.6 percent.

Meanwhile, the deflation in food and non-alcoholic beverages deepened to 6.2 percent from 5.7 percent.

Inflation based on the consumer price index with a fixed interest rate rose to 1.5 percent in May from 0.8 percent a month ago, as estimated.

On a monthly basis, consumer prices increased 1.0 percent, in contrast to a 0.6 percent stable decline in April.