Sweden Jan. retail sales rise 0.1% m/m

Sweden Jan. retail sales rise 0.1% m/m

Sweden’s Retail Sales Rise 0.1% Month-on-Month in January

According to preliminary data, retail trade in Sweden increased by 0.1% in January 2026 compared to December 2025, following a working-day and seasonally adjusted methodology. This modest growth followed a 0.6% rise in the three-month period ending January 2026 (November–January) relative to the prior three-month span (August–October).

Year-over-year, total retail turnover rose by 3.7% in current prices for January 2026 compared to January 2025. This growth was driven by a 5.0% increase in sales of durable goods—such as clothing, furniture, and second-hand items—while sales of consumables, including groceries and department store goods, grew by 2.1% in current prices. However, in constant prices (volume terms), consumables sales remained flat, with their growth entirely attributable to price increases.

The data highlights the seasonal dynamics of January, a month traditionally marked by discounts. While lower profit margins in durables offset some revenue growth, higher sales volumes partially mitigated margin pressures. HUI Research noted that two-thirds of durable goods sub-sectors reported price cuts during the month, though volume growth remained positive in most categories.

Looking ahead, HUI Research forecasts total retail sales growth of 2.5% for 2026, projecting annual sales of approximately SEK 786 billion. Favorable conditions, including household optimism and accommodative fiscal and monetary policies, are expected to underpin consumption trends.

Notably, the preliminary retail sales figures may be revised when final data is published in quarterly updates. The final estimates incorporate administrative data from the Swedish Tax Agency to ensure comprehensive coverage of all retail firms.

In related economic news, Sweden's annual inflation rate rose to 0.4% in January 2026, up from 0.3% in December, though below market expectations of 0.6%. The CPI with a fixed basket (CPIF), the Riksbank's primary inflation measure, eased to 2.0% year-on-year, aligning with expectations.

(https://www.scb.se/en/finding-statistics/statistics-by-subject-area/business-activities-and-foreign-trade/business-production-sales-and-finances--short-term-statistics/turnover-in-the-service-sector/pong/statistical-news/turnover-in-retail-trade/): Statistics Sweden, February 2026.
(https://tradingeconomics.com/sweden/inflation-cpi/news/523728): Trading Economics, February 2026.