Consumer prices fell 0.3% on the month as energy prices dropped sharply, while the Riksbank’s target measure rose 0.7%, slightly above forecasts but down from June.
Sweden’s preliminary July 2026 inflation data showed consumer prices, measured by the CPI (consumer price index), rising 0.2% from a year earlier, above market expectations for a 0.1% gain but slower than June’s 0.7% increase. It was the softest annual rise since May last year. On a monthly basis, CPI fell 0.3%, the first decline in three months, reversing a 0.4% rise in the previous period. The CPIF (consumer price index with a fixed interest rate), which serves as the Riksbank’s target measure, rose 0.7% year-on-year, easing from 1.3% in June and coming in slightly above expectations of 0.6%. Statistics Sweden said sharply lower energy prices helped push both CPI and CPIF inflation lower, with CPIF posting its weakest reading since December 2020.