https://nordictimes.com/economy/swedish-food-prices-soar-up-25-percent-in-three-years/

Economy

Swedish food prices soar – up 25 percent in three years

Published 9 January 2025

– By Editorial Staff

Photo: iStock/Vladimir Fedorov

The price was increased on almost 36,000 food products last year.

Food prices in Sweden have risen by 25% over the past three years, according to a new report from Matpriskollen, a Swedish consumer price tracking organization. In 2024, the most significant price increases were seen in chocolate, olive oil, coffee, and dairy products.

In 2024, food prices increased by 2.8%. If other grocery products are also included, the increase is 2.1%.

Overall price increases have reached 25% since January 2022, according to the report.

The increases vary between stores, and last year they were most noticeable at City Gross, Ica Kvantum, Hemköp and Ica Supermarket. At the same time, some stores are trying to compete by keeping prices lower.

– Maxi is chasing Willys for low prices and in many cases trying to match prices. The price difference on comparable items is around 4% between Willys and Maxi. Lidl, which also offers low prices, has the same price level on directly comparable items as Willys, says Ulf Mazur, CEO and founder of Matpriskollen in a press release.

36 000 products became more expensive

In 2024, the price of almost 36,000 products increased. The increase was particularly marked for cocoa, which has made chocolate on average 17% more expensive. Vinegar and oils also rose by 12%, with olive oil in particular recording a sharp price increase.

Coffee prices have reached their highest level since 1972, with an 18% increase over the year. Dairy products, meanwhile, have risen by 4.7%.

Organic goods rose by 3.6% over the year, according to Matpriskollen.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/the-nordics/sweden/doubling-of-working-retirees-in-sweden/

Sweden

Doubling of working retirees in Sweden

The destruction of the European economy

Published 4 April 2024

– By Editorial Staff

Photo: TheStandingDesk/Unsplash

Older men tend to have higher employment rates than women.

According to Statistics Sweden (Statistiska Centralbyrån – SCB), twice as many older people are employed today than two decades ago. Men generally have a higher employment rate than women.

Men aged 65-69 worked an average of 27 hours per week, while women in the same age group worked an average of 24 hours per week. In the 70-74 age group, men worked on average 23 hours per week and women 18 hours. In 2023, the employment rate for the age group 75-89 in Sweden was seven per cent, or 65,700 people. For the 65-74 age group, the figure has doubled in two decades.

– More older people are working after retirement. The 65-74 age group has gone from an employment rate of 10 percent in 2001 to 20 percent in 2023, says Louise Stener, a statistician at Statistics Sweden, in a press release.

Women are more likely to work in health and social care, while men are more likely to work in agriculture and horticulture. At the same time, more older people are actively looking for work, and the proportion of unemployed older people is now twice as high as it was ten years ago.

– This suggests that there is an untapped labor supply even at older ages, says Stener.

The report is based on statistics from Statistics Sweden’s labor force surveys of people aged 55-89 in Sweden.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/economy/four-out-of-ten-single-swedes-borrow-money-to-pay-for-essentials/

Economy

Four out of ten single Swedes borrow money to pay for essentials

The destruction of the European economy

Published 31 March 2024

– By Editorial Staff

Photo: Jacek Poblocki/Unsplash

Rising prices have made life extremely difficult for many single parents.

Four out of ten single families have had to borrow money in the last six months, according to a new Sifo survey. At the same time, one in five single people have been unable to afford food on one or more occasions.

The survey, commissioned by the Swedish Tenants’ Association (Hyresgästföreningen), Majblomman (an artificial flower sold by schoolchildren for charity), Save the Children (Rädda Barnen) and the Swedish Red Cross (Röda korset), reveals a tougher daily life for the most vulnerable families. Rent increases, high interest rates and rising food prices have put extra pressure on families with limited financial resources, and the situation has become more serious than last year.

Three in ten cohabiting parents and four in ten single parents say they have had to borrow money to pay for the basics in the last six months. This is a significant increase from last year, according to the survey.

In addition, nearly one in two lone parents and one in three low-income cohabiting parents say they have not been able to afford nutritious food every day of the week. One in five single parents cannot always afford to eat well. At the same time, around one in two lone parents and more than three in ten cohabiting parents have struggled to pay for their children’s leisure activities.

The need for effective family policies

– We know that lone parents on low incomes find it particularly difficult to make ends meet. In Save the Children’s activities, we meet single mothers who tell us how difficult it is to manage life on a low income. We need an economic family policy that works, where child benefits follow the cost trend and are increased, said Åsa Regnér, Secretary General of Save the Children, in a press release.

The survey was based on interviews with families with children under the age of 18. The main target groups were single people with an income of less than SEK 29,500 per month and couples with an income of less than SEK 42,000 per month, as well as a control group corresponding to families with children regardless of household income.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/economy/swedish-government-unemployment-will-continue-to-rise/

Economy

Swedish government: “Unemployment will continue to rise”

The destruction of the European economy

Published 12 February 2024

– By Editorial Staff

Photo: facsimile/Government

Minister for employment and integration Johan Pehrson at Tuesday's press conference.

Employment fell in the fourth quarter of last year, while unemployment rose to 8.0%. The number of bankruptcies is also at a record high.

Statistics Sweden’s (Statiska centralbyråns) latest labor force survey shows that unemployment has risen to 8.0 percent, seasonally adjusted, from 7.5 percent in 2022. The government forecasts that it will reach 8.5% in 2025, which is 40,000 more unemployed than in 2023.

– Despite the relatively weak economy, many employers are looking for qualified people to hire. If you lose your job, you should be prepared to relocate or train. Some parts of the country are crying out for workers while unemployment is rising. It doesn’t make sense, says employment and integration minister Johan Pehrson at a press conference.

Unemployment is highest among the foreign-born, who already had significantly higher unemployment rates before the recession.

Employment in the Swedish labor market also fell in the fourth quarter, and the government predicts that it will continue to do so throughout the year. At the same time, the number of bankruptcies is at a record high and will reach its highest level since the 1990s in 2023.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/economy/one-in-three-swedes-struggles-to-pay-rent/

Economy

One in three Swedes struggles to pay rent

The destruction of the European economy

Published 23 January 2024

– By Editorial Staff

Photo: CanStockPhoto/gina_sanders

Many Swedes are getting poorer and are now struggling to pay bills for basic needs.

A third of Swedes have difficulty paying for basic needs such as rent and food, according to a new survey. At the same time, many are very worried about their financial situation.

Those in better health also have better financial well-being, according to the survey by the Swedish Financial Supervisory Authority and the Swedish National Board of Health. At the same time, those who are more worried about their finances report poorer health.

– As expected, the survey confirms that financial and general health go hand in hand. Financial anxiety creates vulnerability and affects overall financial well-being, says Sofia Tyréus, senior project manager for financial education at Finansinspektionen.

The majority of respondents say they have good financial well-being, but about a third report feeling anxious or stressed about their finances. The same proportion have had difficulties covering current expenses such as rent and food in the past year. In addition, three in five say they could handle an unexpected expense equal to one month’s salary without borrowing.

Women and families with children

It appears that men, pensioners and highly educated professionals without children, as well as households with a net income of SEK 50,000 or more per month, often report higher financial well-being. On the other hand, women, households with several children, single persons, foreign-born persons and households with a net income of less than SEK 25,000 per month often report lower financial well-being.

The survey was conducted by Origo Group on behalf of Finansinspektionen, Sweden’s Financial Supervisory Authority in cooperation with Folkhälsomyndigheten, the Swedish National Board of Health. It was carried out in November and December and included more than 2,000 respondents aged 18 to 79.

Editorial Staff
editorial@nordictimes.com

Facts: Financial well-being

Also known as financial health, it refers to the extent to which an individual is able to meet their financial needs and is prepared to deal with financial crises.

Source: Finansinspektionen, Sweden's Financial Supervisory Authority.

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