Household expenses are expected to continue to rise next year, according to a new forecast from the Swedish Consumer Agency. The forecast generally shows a lower price increase compared to 2023, but certain costs are still expected to rise.
Every year, the Swedish consumer agency (Konsumentverket) compiles a forecast of household expenditure for the coming year on behalf of the government. These figures are used, among other things, by municipalities to calculate social benefits and by the Social Insurance Agency, and sometimes by banks when applying for loans. The forecast includes common expenses such as food, home furnishings, media, home insurance, and leisure activities, but excludes housing and travel costs due to their variable nature.
– Our calculations are not based on luxury consumption or just the bare necessities of life. We try to be as realistic as possible. We usually get reactions from those who think we are overestimating and from those who do not understand how we can calculate so low, says Kristina Difs, an official at the consumer agency, in a press release.
Taking into account falling electricity prices, the agency predicts a decrease in electricity costs of about 30 percent, barring unexpected events such as an extremely cold winter. However, water and sewerage charges are expected to rise by about 15 percent. Food prices are expected to rise by about eight percent, while clothing and footwear will likely increase by as much as 30 percent.
– Higher manufacturing and transport costs remain and are pushing up food prices, according to Difs.