On Tuesday April 7, Statistics Sweden released the Flash CPI for March 2026.
The figures showed a mixed picture:
- CPIF (Riksbank's main measure) fell to 1.6% - significantly below forecasts
- CPIF-EX dropped to 1.1%
- Meanwhile, the regular CPI rose from 0.5% to 0.6%
SVT and Expressen chose to lead with “Inflation fell”, focusing on the KPIF numbers that suited their narrative.
Dagens Nyheter and TV4 instead went with “Inflation rose”, highlighting the regular CPI.
Same statistics. Two completely opposite headlines.
This is not journalism. This is narrative shaping and agenda-driven reporting. Swedish mainstream media once again proves how they selectively cherry-pick numbers to push their preferred story — especially when it comes to the economy and the government’s performance.
The Riksbank’s next monetary policy decision is on May 7. It will be interesting to see how Governor Erik Thedéen, a well-known interest rate hawk, justifies keeping the policy rate unchanged even though inflation has now been at or below the 2% target for a long time.
Out of Thedéen’s 40 months as governor, the inflation target has only been reached 16 times within the tolerance band.
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