FX.co ★ Sweden’s CPIF Rebounds in May, Snapping April Deflation Trend

Sweden’s CPIF (CPI at constant interest rates) swung back into positive territory in May 2026, rising 0.9% month-over-month after a 0.6% decline in April. The latest data, updated on 4 June 2026, mark a notable shift from the previous month’s negative reading and suggest a short-term reversal in price dynamics.

The April 2026 figure showed CPIF falling by 0.6% compared with March, pointing to a brief period of deflationary pressure. In contrast, May’s 0.9% month-on-month increase indicates renewed price growth when measured against April. On a comparison basis, the “actual” reading reflects May’s change from April, while the “previous” reading captures April’s change relative to March.

This turnaround in CPIF will be closely watched by markets and policymakers, as it may influence expectations around the future path of inflation and the broader Swedish economic environment. While the data only cover a one-month horizon, the move from negative to positive territory underscores how quickly short-term price trends can shift.