Inflation in Sweden fell in October, the official statistics agency said Tuesday, saying lower energy costs had helped to bring down prices.
As central banks around the world fight to rein in soaring prices, Sweden recorded a drop in the consumer price index to 9.3 percent in October, down from 9.7 percent in September.
It said this was because "electricity prices decreased by nearly 24 percent" between September and October, while still remaining elevated.
Sweden's central bank, the Riksbank, in September raised its guiding interest rate one percentage point to 1.75 percent, in a bid to temper inflation.
Food and fuel prices have soared this year following Russia's invasion of Ukraine, with many central banks globally raising interest rates to combat decades high levels of inflation.
Sweden is a net exporter of electricity, but supply issues have increased with the closure of several nuclear reactors in recent years and less reliable production from renewable energies, meaning it must import power at times.
The country has already resorted to firing up reserve power plants that run on oil, deriving most of its electricity production from hydro power, nuclear and wind power, which can lead to seasonal variations in supply.