Food prices continue to rise in Sweden

By Alimat Aliyeva

Food prices in Sweden increased by 3.9 percent in February this year compared to the same month last year. This marks the highest growth rate in a year, Azernews reports.

The largest price increases were recorded for coffee and dairy products. Economists have expressed concern about the current situation, as there are no signs that prices will fall anytime soon.

SEB chief economist Jens Magnusson says that high inflation will make it difficult for the Riksbank to cut interest rates. He noted that the Swedish economy, particularly the private consumption sector, has not yet shown growth and requires stimulus measures.

According to Statistics Sweden (SCB), the main factors driving inflation were rising prices for electricity, food, and soft drinks. Specifically, prices for coffee rose by 28 percent, butter by 26 percent, and sweets and ice cream by 9.4 percent.

Dairy products saw an average price increase of 10 percent. Experts attribute the price hikes to global instability, transportation issues, and weather-related factors. These challenges have led to higher costs at every level of the supply chain.

In addition to food, electricity and clothing prices have also risen. On the other hand, interest expenses decreased by 20 percent, and fuel costs dropped by 7 percent.

The leader of the Leftist Party, Nooshi Dadgostar, has called for a boycott of large supermarket chains in protest of the price hikes. The opposition is urging the government to take active measures to combat inflation. Former Prime Minister Magdalena Andersson believes that increasing competition in the market is essential to reducing the influence of large retail companies. Dadgostar also accused food giants of using their market power to drive up prices, thereby destabilizing the country's economy.

The call for a boycott has gained traction on social media. Dadgostar emphasized that people can protest rising prices not only by avoiding large retail chains but also by supporting local vendors or utilizing food supplies they already have at home.

The rising food prices and inflation in Sweden reflect broader global trends, with many countries experiencing similar challenges due to supply chain disruptions, geopolitical tensions, and climate change-related impacts on agriculture. The Swedish situation highlights the delicate balance between inflation control, economic growth, and ensuring that consumers can access affordable goods. The growing calls for market reforms and local purchasing could signal a shift toward more sustainable and community-driven economic practices in the face of ongoing price pressures.