FX.co ★ Sweden’s CPIF Swings into Deflation in March, Dropping to -0.6% MoM

Sweden’s CPIF (consumer price index at constant interest rates) slipped into negative territory in March, highlighting a sharp reversal in short‑term inflation dynamics. Month over month, the index fell to -0.6%, compared with a 0.6% increase in the previous month, according to data updated on 14 April 2026.

The figures, based on a month‑over‑month comparison, show that March’s decline contrasts starkly with the upward movement seen earlier. The “previous” reading of 0.6% reflected the change in prices from two months ago to last month, while the latest “actual” value of -0.6% captures the shift from February to March. The turnaround signals mounting disinflationary, and potentially deflationary, pressure in Sweden’s price environment.

While the data cover only one period, the abrupt move from positive to negative territory in CPIF will likely draw close attention from policymakers and markets, given CPIF’s central role as a key gauge for Sweden’s inflation trend at constant interest rates.