FX.co ★ Sweden’s Underlying Inflation Edges Down in August as CPIF Ex Energy Slows to 0.5% YoY

Sweden’s underlying inflation, measured by the CPIF excluding energy, eased slightly in August 2026, underscoring a continued trend of subdued price pressures. The year-over-year rate slipped to 0.50%, down from 0.60% in July 2026, according to data updated on 14 September 2026.

The CPIF ex energy indicator compares price changes in August 2026 against the same month a year earlier, filtering out volatile energy components to give a clearer view of core inflation dynamics. The previous reading for July similarly reflected a year-over-year comparison, indicating that the latest move represents a modest deceleration rather than a sharp shift in inflation conditions.

This incremental decline in core inflation may be closely watched by policymakers and markets alike, as it offers additional evidence that underlying price growth remains weak on an annual basis. While the change is small, the direction suggests that inflationary pressures outside the energy sector are not accelerating and may influence expectations around the future path of monetary policy in Sweden.