Consumer Price Index (CPI), December 2025
The inflation rate according to the CPI was 0.3 percent in December 2025
Statistical news from Statistics Sweden 2026-01-15 8.00
The inflation rate according to the CPI in December 2025 was 0.3 percent, which it also was in November. The monthly change for the CPI from November to December was 0.0 percent. The inflation rate according to the CPIF (Consumer Price Index with fixed interest rate) was 2.1 percent in December, down from 2.3 percent in November.
“Prices for air travel and car rentals rose in December, which is normal for the season. The price increases were offset by price reductions on fuels and furniture, among other things," says Caroline Neander, statistician at Statistics Sweden.
In brief
Index, monthly and yearly changes for the CPI, the CPIF, and the CPIF-XE
| Index numbers | Monthly changes, percent | Annual changes, percent |
|
|---|---|---|---|
| CPI (1980=100) | 417.96 | 0.0 | 0.3 |
| CPIF (1987=100) | 270.08 | 0.1 | 2.1 |
| CPIF-XE (1987=100) | 254.91 | 0.3 | 2.3 |
Monthly change since November 2025
- Prices on electricity and fuels fell from November to December.
- Prices on package holidays increased by 17 percent in December from November.
- From November to December, car rental prices went up by 24 percent.
- Furniture prices decreased from the previous month.
Annual change since December 2024
- Prices for food and non-alcoholic beverages were 3.7 percent higher in December 2025 compared to the same month a year ago.
- Fuel prices were 11 percent lower than in December last year.
- Prices of furniture and household goods fell in December from the year before.
Furniture prices fell in December while prices of package holidays rose
The total price development from November to December was unchanged at 0.0 percent, just like 2024, when prices were unchanged from November to December as well.
From the previous month, prices for car rental, package holidays and international flights went up. Prices for travelling tend to rise in December during the holiday season, although car rentals and package holidays rose slightly more than normal.
What counteracted the price increases were lower prices for accommodation services, electricity and fuels. In addition, prices of furniture and household goods fell from November to December.
The table below shows changes on a monthly basis and contributions to the CPI based on the goods and services that had the greatest impact on the CPI in December 2025. The results are presented by COICOP category. COICOP refers to the United Nations classification of household consumption expenditure.
Monthly contributions to the CPI for goods and services
| Category (Coicop) | Monthly changes, percent | Contribution to CPI, Monthly change, percentage points |
|---|---|---|
| Electricity (04.5.1) | -2.9 | -0.1 |
| Furnishings and household goods (05) | -1.9 | -0.1 |
| Fuels (07.2.2) | -5.6 | -0.1 |
| Car rental (part of 07.2.4) | 24.1 | 0.1 |
| International flights (part of 07.3) | 38.4 | 0.1 |
| Package holidays (09.6) | 17.0 | 0.3 |
| Accommodation services (11.2) | -7.4 | -0.1 |
Contributions to the inflation rate in December
The inflation rate according to the CPI, that is, the change in the CPI from the corresponding month a year before, was 0.3 percent in December 2025. This was unchanged from the previous month.
The prices of food and non-alcoholic beverages increased from December the year before, where cucumber, cocoa and chocolate drinks, coffee and beef rose the most. Rents of rented dwellings were higher than one year ago. Prices for electricity, restaurant visits and package holidays also rose. In addition, prices for personal care went up.
Like previous months the inflation rate was counteracted by lower costs for interest expenses for both owner-occupied housing and tenant-owned apartments where they together contributed by a 1.5 percentage point decrease to the inflation rate according to the CPI. In addition, fuel prices and the prices of furniture and household goods decreased. There were also lower prices in home electronics*.
The inflation rate according to the CPIF, which unlike the CPI is not affected by changes in interest rates on household mortgages, was 2.1 percent in December, down from 2.3 percent in November.
The inflation rate for the CPIF calculated excluding energy (CPIF-XE), was 2.3 percent in December, which can be compared with 2.4 percent in November.
*Home electronics - Audio-visual, photographic and information processing equipment, according to COICOP-standard
Contributions to the inflation rate
| Category (Coicop) | Yearly change, percent | Contribution, yearly change, CPI percentage points |
|---|---|---|
| Food and non-alcoholic beverages (01) | 3.7 | 0.5 |
| Electricity (04.5.1) | 7.1 | 0.3 |
| Rented dwelling, rents (04.S.1) | 4.7 | 0.4 |
| Interest expense, owner-occupied housing (part of 04.x) | -21.2 | -0.9 |
| Interest expense, tenant-owned apartments (part of 04.y) | -24.3 | -0.6 |
| Furnishings and household goods (05) | -3.4 | -0.2 |
| Fuels (07.2.2) | -10.9 | -0.4 |
| Audio-visual, photographic and information processing equipment (09.1) | -13.0 | -0.2 |
| Package holidays (09.6) | 4.8 | 0.3 |
| Restaurants (11.1) | 3.6 | 0.3 |
| Miscellaneous goods and services (12) | 4.2 | 0.3 |
Different measures of inflation
Statistics Sweden calculates different inflation measures for different purposes. The CPIF is the Riksbank’s target variable, while CPI is the measure used for purposes of compensation. The CPIF includes the same goods and services as CPI. The difference between the CPI and the CPIF is that the latter measure holds interest rates for household’s mortgages constant. Consequently, the effect of changed interest rates for household’s mortgages is only captured by the CPI and not the CPIF.
Additional to the CPI and the CPIF, the HICP is also calculated. The HICP is a harmonized measure of inflation used within the EU cooperation. Another index that is calculated each month is CPIF-XE (the CPIF excluding energy products) which is often used as a measure of underlying inflation.
Measures of inflation
Changes in 2026
Changes in the production of the Consumer Price Index will be introduced from 2026. For further information, please see:
Changes in the CPI as from 2026
Updating COICOP 2018 tables in the statistical database
On January 23, the tables with classification according to COICOP 2018 will be updated with data for 2025. The preliminary values that are already available for the years 1980-2024 will be updated to definitive values at the same time. The tables concerned are available in the statistical database.
Impact analysis for COICOP 2018
From 2026, the Consumer Price Index and related measures of consumer side inflation will be reported according to a new classification standard and a new reference year. More information is available here in Swedish:
Impact analysis for COICOP 2018 (Swedish)
Updated classification and reference year for the Swedish CPI
As from January 2026 the Swedish CPI will change reference year, from 1980 to 2020. At the same time the classification will be updated from COICOP 1999 to COICOP 2018. More information is available here:
Updated classification and reference year for the Swedish CPI
CPI flash estimate: a preliminary indicator
The CPI flash estimate is a preliminary indicator for the aggregated inflation that is published five working days before the regular publication of the Consumer Price Index (CPI). Sometimes the CPI flash estimate can deviate from the regular CPI. For more information, please see:
Next publishing will be
CPI flash estimate
2026-02-06 at 8.00 am.
Ordinary publication
2026-02-20 at 8.00 am.