In October, inflation landed at 9.3 percent compared to the same month last year, according to Statistics Sweden's measure KPIF.
This was a decrease from September when the same measure was 9.7 percent.
But after several months of high inflation figures, First Deputy Governor of the Riksbank Anna Breman believes that the trend is about to turn.
- I think we are back to around two percent around the turn of the year by 2024, says Anna Breman at the Economic Agency.
"Anything can happen"
At the same time, she highlights the importance of what happens in the outside world that can control how inflation develops in Sweden.
- It is a very worried world, anything can happen next year.
In the past year, we have seen how this can affect electricity prices, which in turn can contribute a couple of percentage points in a month right now.
National economist Klas Eklund is not as convinced that the inflation target will be reached so quickly.
- I hope so, but I'm afraid it may take a little longer.
But we will move downwards over the course of next year, he says.
"The prices will not come back"
Even if inflation were to return to previous levels, it is important to remember what this means according to Klas Eklund.
- I think there is a common perception that when inflation falls, prices will fall back, but that is not the case.
Even if inflation goes down, prices will remain at least at the same level as now, he says.
See Ekonomibyrån's latest episode "When will it turn around?" on SVT Play.