Swedish wages rise 3.5% in March as inflation erodes real earnings

Sweden’s Medlingsinstitutet projects that total wages in the economy will increase by 3.5 % in March 2026, up from a preliminary 3.3 % reading. The expected rise is higher in the public sector – around 3.8 % – than in the private sector, which is forecast at 3.3 %. Real wages measured with the consumer price index rose 3.0 % and 1.9 % when core inflation (KPIF) is excluded, reflecting the impact of lower mortgage costs after recent rate cuts.

Despite the nominal gains, inflation has averaged about 22 % over recent years, leaving most occupational groups with reduced purchasing power. Only a handful of high‑earning professions – such as CEOs, R&D directors, finance heads, hotel managers, IT chiefs, doctors and veterinarians – posted wage growth that outpaced inflation. Other groups, including forestry managers and some politicians, saw modest declines in average pay.