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ECONOMY

Coffee and cabbages: which goods are getting pricier in Sweden?

If your pay check is no longer quite stretching until the end of the month, consider your coffee consumption. Coffee is nearly a third more expensive than it was a year ago, according to the latest figures from Statistics Sweden.

Coffee has shot up in pice by 30 percent in Sweden over the past 12 months.
Coffee has shot up in pice by 30 percent in Sweden over the past 12 months. Photo: Helena Wahlman/Imagebank Sweden

Sweden in February had the highest inflation for 30 years, according to the government statistics agency Statistics Sweden, with consumer prices rising 4.5 percent year-on-year.  With the added impact of the war in Ukraine this month, Torbjörn Isaksson, chief analyst at Sweden’s Nordea bank, expects consumer price inflation to top six percent in March. 

But not everything has soared in price. Indeed, if you live primarily on leeks and avocados, you might even have seen your monthly food bills decline. 

Here we break down what’s more expensive, and what’s not. 

Swedish price rises

Table: Richard Orange – Source: Statistics Sweden 
 
Price rises in Sweden

Table: Richard Orange – Source: Statistics Sweden 

But some of the worst cost increases have been taking place outside your local supermarket, when you fill up your car or when you get your electricity bill.

Here’s a breakdown of which types of goods and services have seen the biggest increases. 

Price changes in Sweden

Table: Richard Orange – Source: Statistics Sweden 

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ECONOMY

Sweden facing ‘the highest inflation in 30 years’

Sweden last month saw the highest levels of inflation in more than 30 years, according to the latest figures from Statistics Sweden.

Sweden facing 'the highest inflation in 30 years'

Consumer prices rose 6.4 percent in April, the agency reported in its latest monthly figures, well ahead of the 6.1 percent rise predicted by analysts and up from 6.1 percent in March. 

“This shows high inflationary pressure. It’s in line with consensus, but it’s 0.2 percentage points higher than what the Riksbank has been predicting,” said Olle Holmgren, an economist with SEB. 

Rising prices of meat, vegetables and other groceries were the main reasons for the rise, with the prices of electricity and fuel falling month-on-month. If energy prices are excluded, inflation was 4.5 percent in April, up from 4.1 percent in March. 

“Restaurant prices are rise quite a bit for the second month in a row. That can be linked to grocery prices,” Holmgren said. “Then there are higher prices generally, but grocery prices are increasing rapidly.”

Holmgren predicted that the inflation rate could continue to rise in the coming months, increasing the risk that Sweden’s public bank, the Riksbank, will hike interest by 0.5 percentage points — two slots — in September. 

Fuel prices fell in April compared to March, although diesel remains 56.7 percent higher than a year ago and petrol 36 percent higher. 

The price coffee is higher now than at any time since it joined the consumer price index in 1983, after rising 29 percent so far this year. 

Other groceries which have risen significantly in price this year are cabbage and tomatoes, which rose in price by 43 percent ad 33 percent respectively. 

The price of avocado has fallen by 14 percent this year, while pickled herring has fallen in price by 16 percent. 

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