Sweden Core Inflation Rate
Year-on-year change in consumer prices excluding food and energy.
Core Inflation Rate in Sweden increased to -0.15 percent in Dec 2025 from -0.27 percent in Nov 2025.
Sweden Core Inflation Rate — History
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Sweden Core Inflation Rate — analysis in simple words
Latest reading
Core Inflation Rate in Sweden increased to -0.15 percent in Dec 2025 from -0.27 percent in Nov 2025.
Over the last three months it rose twice and fell once.
Recent trend
A year earlier (Dec 2024) it was 1.3%, so the latest figure is 1.4 percentage points lower.
Over the past five years the average was 4.3%, with a range from -0.5% to 11.4%. The latest value is below that five-year average.
Historical context
This data series starts in Jan 1971 and has 660 monthly observations. The latest reading is higher than 7% of all of them.
The highest value on record is 14.6% (Sep 1980) and the lowest is -2.1% (Oct 2009). The long-run average is 4.1%.
Compared with other countries
Among 38 economies with recent data, Sweden ranks 38th from the top. The median across all these economies is 2.9%, so Sweden is below the typical country.
Within Europe & Central Asia (29 economies with data) it ranks 29th; the regional median is 2.9%.
Statistics
- Latest
- -0.2%Dec 2025
- Previous
- -0.3%
- 5-year average
- 4.3%
- Long-run average
- 4.1%since Jan 1971
- All-time high
- 14.6%Sep 1980
- All-time low
- -2.1%Oct 2009
- Observations
- 660Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Dec 2025 | -0.2% | ▲ +0.1 pp |
| Nov 2025 | -0.3% | ▼ −0.2 pp |
| Oct 2025 | 0.0% | ▲ +0.1 pp |
| Sep 2025 | -0.1% | ▼ −0.0 pp |
| Aug 2025 | -0.1% | ▼ −0.3 pp |
| Jul 2025 | 0.2% | ▼ −0.1 pp |
| Jun 2025 | 0.4% | ▲ +0.9 pp |
| May 2025 | -0.5% | ▼ −0.7 pp |
| Apr 2025 | 0.2% | ▼ −0.0 pp |
| Mar 2025 | 0.2% | ▼ −0.6 pp |
| Feb 2025 | 0.8% | ▼ −0.4 pp |
| Jan 2025 | 1.2% | ▼ −0.0 pp |
| Dec 2024 | 1.3% | ▼ −0.9 pp |
| Nov 2024 | 2.1% | ▼ −0.1 pp |
| Oct 2024 | 2.3% | ▼ −0.3 pp |
| Sep 2024 | 2.5% | ▼ −0.6 pp |
| Aug 2024 | 3.1% | ▼ −0.4 pp |
| Jul 2024 | 3.5% | ▼ −0.5 pp |
| Jun 2024 | 4.0% | ▼ −1.0 pp |
| May 2024 | 5.0% | ▼ −0.4 pp |
| Apr 2024 | 5.3% | ▼ −0.6 pp |
| Mar 2024 | 5.9% | ▼ −0.5 pp |
| Feb 2024 | 6.4% | ▼ −1.5 pp |
| Jan 2024 | 7.9% | ▼ −0.1 pp |
| Dec 2023 | 8.0% | ▼ −0.1 pp |
| Nov 2023 | 8.1% | ▼ −1.0 pp |
| Oct 2023 | 9.1% | ▼ −1.0 pp |
| Sep 2023 | 10.1% | ▼ −0.3 pp |
| Aug 2023 | 10.4% | ▼ −1.0 pp |
| Jul 2023 | 11.4% |
Core Inflation Rate — Sweden vs Peers
Latest available reading for each economy (periods may differ). Sweden highlighted.
More Sweden indicators
Understanding Core Inflation Rate — a simple guide
What it measures
The year-on-year change in consumer prices excluding food and energy, which can jump around because of weather, harvests and oil prices.
How it is calculated
The same method as headline CPI inflation, but the basket excludes food and energy items.
If headline inflation is 4% but food prices jumped, core inflation might be only 3%.
High core inflation means price rises are broad-based, not just caused by food or fuel.
Low core inflation suggests underlying price pressure is mild.
Why it matters for the economy and markets
Central banks watch core inflation to judge the underlying trend in prices. If core inflation stays high, interest rates are more likely to stay high too.
How to read it
Compare it with headline inflation: if headline falls because fuel got cheaper but core stays high, price pressure across the economy has not really eased.
What to look at alongside it
Headline inflation, wage growth and the policy rate.
Key terms
- Headline inflation
- Inflation of the full CPI basket.
- Core inflation
- Inflation excluding food and energy.
Data source
OECD — Organisation for Economic Co-operation and Development (series OECD CPI ex food & energy), monthly data from Jan 1971 to Dec 2025. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current core inflation rate of Sweden?
What is the highest and lowest core inflation rate of Sweden?
What does core inflation rate measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.