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Swedes cut food budgets as crisis unfolds

TT/The Local/pvs · 15 Sep 2011, 17:51

Published: 15 Sep 2011 17:51 GMT+02:00

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The shift to cut-price items is the clearest trend shown in an economic status report from the Swedish Food Federation (Livsmedelsföretagen - Li) according to 41 percent of businesses responding to the survey.

In November 2010 the equivalent figure was 8.9 percent in the food industry organisation's survey.

"We are interpreting this definitely as a sign that households are keeping tabs on their money as precautionary measure before an impending recession," said Carl Eckerdal at Li to the Dagens Industri business daily.

The trend towards cut price items is a more long term, according to Jonas Arnberg, at HUI Research which follows trade development, to the news agency TT.

But Arnberg pointed out that this trend has less to do with the economic cycle and more to do with the possibility of buying in cheaper items from China. Furthermore new concepts have emerged onto the market, such as Lidl.

Story continues below…

"In all sectors there is clear downward pressure on price. Over the past year is that the assortment has grown, one can buy low price, but also a little more expensive," he said.

"When you get into a situation like this, where household confidence has dipped significantly during the summer, it is natural to lean more towards the cheaper alternatives."

TT/The Local/pvs (news@thelocal.se)

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Your comments about this article

21:20 September 15, 2011 by swedejane
Here it comes...Sweden is not insulated from the trouble of Europe. And Europe is facing in Greece what the US faced three years ago with the collapse of Lehman Brothers.
22:12 September 15, 2011 by Grokh
What greece is facing is a direct result of what happened in usa seeing there were several greek banks buying the bad stuff that was going around in U.S banks.

And these crisis wont get solved so long idiot bankers keep messing around with derivatives , and treating stock markets as personal gambling banks, with the exception that if they lose they win because governments will need to cover up their screw ups.
11:36 September 16, 2011 by karex
I think that the problem in Greece is more complex, as nepotism and poor administrative practices in the government particularly in the finance area are also major contributing factors here.
13:02 September 16, 2011 by shinnam
The current Swedish government is following in the regressive tax policies of U.S. It is absurd that the govenment has just lowered the tax for resturaunt food has been lowered,( http://www.thelocal.se/36088/20110912/ ) but the poorest people, likely those working in food service, will still pay taxes on take home food. Poor people spend more of their income on food tha
14:13 September 16, 2011 by the fonz
I think you might find that Greece is in trouble because it spends more than it earns. Simple really.
16:59 September 17, 2011 by J Jack
I do most of the shopping for our household in Sweden and I am also tempted by cut price items but the demographics tell us that this trend will lead to obesity in epidemic proportions. It's hard because the per kilo prices of good foods like salad are very misleading compared to the packet price. Salad is double the price of beef and you need to eat a lot to get full. The other scary thing about the trend is control. The supermarket giants decide on weekly specials across the country and therefor control what people eat to a certain degree. They can control our future health, that's scary.
18:34 September 17, 2011 by AnnicaE
If anyone has noticed there's no butter in the shops, it's so that Arla can raise the prices when there's some butter again on the shelf...
19:37 September 19, 2011 by rybo1
Hey, I've become a big fan of Euroshop products. For example, their dish-washing tabs, are about half the price of "name brands" and results as good if not better. We don't need to pay more for "triple action super tabs" or honey for that matter.
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