High vegetable prices drives Sweden’s highest food prices increases in 72 years

Published 2023년 3월 24일

Tridge summary

Sweden is experiencing its highest food price increases in 72 years and inflation in 30 years, largely due to significant hikes in vegetable prices. The Consumer Price Index (CPI) rose to 12% in February 2023, with leeks and cauliflower increasing by approximately 80% and peppers by 54% since February 2022. Experts attribute these price hikes to the global impact of the Russia-Ukraine conflict and escalating energy prices. The situation has led to the opening of more social food stores for the economically vulnerable. Competition authorities are investigating potential price gouging, and retailers are struggling with rising costs, with some facing bankruptcy. Despite these challenges, there is optimism for a decrease in produce prices in spring with the anticipated increase in northern European production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Very high vegetable prices in Sweden are driving the highest level of food price increases in the country in 72 years, while they also contributed to the highest inflation in 30 years. Sweden's inflation was up to 12% in February 2023, according to the high-income countries' latest released Consumer Price Index (CPI) figures, leaving many consumers struggling to afford the basics. Experts in the country say Sweden has not seen such drastic increases in food prices since 1951. Leeks and cauliflower have increased by about 80% since February 2022, and peppers by 54% since then. "The inflation rate was affected by a widespread price increase within food, but vegetable prices increased slightly more than other food products," said Mikael Nordin, a statistician at Statistics Sweden. According to Peter Horvath, from Svenska Odlarlaget, one of the largest Producer Organizations in the country, regarding the sale of Swedish fruits, vegetables, and berries, the Russian war in Ukraine and ...

Source: Hortidaily