FX.co ★ Swedish Producer Inflation Hits Highest Since 2023

Producer prices in Sweden rose 6.6% year-on-year in May 2026, up from a 4.7% increase in April. This marked the third consecutive monthly gain and the fastest annual pace since February 2023, largely driven by persistently higher energy costs (32.7% vs 27.0% in April). Prices for capital goods also accelerated (1.4% vs 0.6%), while prices for consumer goods continued to fall, albeit at a slightly slower rate (-2.7% vs -3.2%). Excluding energy-related products, producer prices increased 2.7%, quickening from a 1.4% rise in the previous month. On a monthly basis, producer prices climbed 1.3% in May, following a 1.1% gain in April. Meanwhile, domestic prices advanced 7.8% year-on-year, after a 5.5% increase in April. “The main driver behind the price increase in the domestic market in May came from higher prices for trade services for electricity,” said Maria Bäckström, statistician at Statistics Sweden.