Over the past two years, there has been a nearly 22% increase in food prices in Sweden, according to a report from Matpriskollen. This increase is historically high and has mainly affected prices of candies, fish, and seafood, while dairy products have actually seen a slight decrease in price.
Similar trends have been observed across the Nordic region. In Norway, food prices are among the highest in Europe, significantly above the EU average, and about 40% higher compared to Sweden. In Finland, food prices have risen during the first half of the year but have recently shown signs of stabilizing.
In Denmark, the food sector has struggled with high prices for raw materials, energy, and labor, leading to a 7.7% increase in food prices over the past year. These high food prices are expected to continue in Denmark for the foreseeable future.
In Iceland, the consumer price index increased by almost 10% in 2023. Food prices are high in international comparison, partly due to Iceland’s size, the proportion of imported food, and lack of market competition. Many common food items such as milk, bread, eggs, cheese, and meat have seen significant price increases.
The increase in food prices in the Nordic region in 2023 goes against the global trend, which, according to the UN, shows falling food prices worldwide in 2023.