Swedish government meets with food industry over prices

The Swedish government will meet with major food companies on Thursday. They want to address the rising food prices that have upset many consumers. In February, food prices increased by 3.9 percent compared to the same month last year, marking the highest rise in two years. A report from Matpriskollen revealed that grocery prices in Sweden have gone up by 19.1 percent over the past two years. This surge has led to calls for a boycott of the country's main grocery chains. Residents in Skarholmen, a neighborhood in Stockholm, expressed their struggles with the rising costs. Many are turning to local markets and smaller stores for better prices. Dairy products are seeing some of the largest price hikes. Butter has increased by 26 percent in just one year. Finance Minister Elisabeth Svantesson and Rural Affairs Minister Peter Kullgren plan to meet with supermarket chains like ICA, Coop, and Axfood. They aim to understand the situation and find ways to lower prices for consumers. Last year, the head of the Swedish Competition Authority pointed out that consumers are paying more for food than the actual increase in production costs. He suggested that better competition could have prevented this issue. Food industry representatives attribute the price increases to external factors like the Covid pandemic, the war in Ukraine, and rising inflation. Many consumers are feeling the pinch. One man mentioned he stopped smoking to afford groceries, saying his salary has not kept pace with the rising prices.