2025年2月，瑞典的年度生产者通胀率从1月份近两年的峰值3.5%降至3.4%。消费品（3.2%对5.5%）和资本品（1.6%对3.7%）的价格均有所放缓。然而，能源相关产品大幅反弹（8.4%对-2.8%）。不包括能源相关产品，生产者价格指数同比上涨2.6%，低于1月份4.5%的涨幅。按月计算，生产者价格指数下降0.1%，与1月份1.7%的涨幅相比有所波动，这是自2024年9月以来的首次下降。

The annual producer inflation in Sweden inched lower to 3.4% in February 2025 from January's near two-year peak of 3.5%. Prices moderated for both consumer goods (3.2% vs 5.5%) and capital goods (1.6% vs 3.7%). However, energy-related products rebounded sharply (8.4% vs -2.8%). Excluding energy-related products, producer prices rose 2.6% year-on-year, softer than a 4.5% increase in January. On a monthly basis, the PPI was down 0.1%, swinging from a 1.7% increase in January and marking the first drop since September 2024.

瑞典生产者价格指数（年环比）从之前的3.5%降至2月份的3.4%。瑞典生产者价格指数（年环比）从之前的3.5%降至2月份的3.4%

Sweden Producer Price Index (YoY) declined to 3.4% in February from previous 3.5%.Sweden Producer Price Index (YoY) declined to 3.4% in February from previous 3.5%

瑞典10年期政府债券收益率升至2.71%的15个月高点。在过去的4周里，瑞典10年期债券收益率上涨了34.40个基点，在过去的12个月里，它上涨了23.70个基点。

Sweden 10 Year Government Bond Yield increased to a 15-month high of 2.71%. Over the past 4 weeks, Sweden 10Y Bond Yield gained 34.40 basis points, and in the last 12 months, it increased 23.70 basis points.

瑞典央行在2025年3月将政策利率维持在2.25%，符合预期，理由是通胀和经济增长前景基本不变。政策制定者指出，预计今年剩余时间通货膨胀率将保持在目标之上，但到2026年应稳定在2%左右。与此同时，在实际工资上涨、利息支出下降以及国防和政府支出增加的支持下，瑞典经济正在复苏。然而，风险依然存在，包括全球发展、克朗汇率、美国贸易冲突升级、欧洲地缘政治紧张局势以及家庭支出和企业投资的变化。瑞典央行重申了其稳定的利率前景，但如果通胀偏离，仍准备调整政策，预计随着货币政策支持稳定，将逐步恢复到目标水平。

The Swedish Riksbank kept its policy rate at 2.25% in March 2025, in line with expectations, citing a largely unchanged outlook for inflation and economic growth. Policymakers noted that inflation is expected to remain above target for the rest of the year but should stabilize near 2% in 2026. Meanwhile, Sweden’s economy is recovering, supported by rising real wages, lower interest expenses, and increased defense and government spending. However, risks persist, including global developments, the krona exchange rate, escalating US trade conflicts, geopolitical tensions in Europe, and shifts in household spending and corporate investment. The Riksbank reaffirmed its stable rate outlook but remains ready to adjust policy if inflation deviates, expecting a gradual return to target as monetary policy supports stability.