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Sweden sees record surge in food prices

Stockholm, March 7 (VOICE) Food prices have seen record month-on-month increases in Sweden, with baby food particularly affected, a survey showed.

Covering around 44,000 items, the survey by price comparison site Matpriskollen found that food prices had increased by 2.5 per cent in February — the highest monthly increase since 2015, Xinhua news agency reported.

The survey also showed that baby food prices had increased on average by a staggering 10.8 per cent from January.

“Many families cannot make ends meet and it is becoming a problem that politicians need to address, especially for single parents. Those who are hit hardest need food on the table,” said Ulf Mazur, founder and managing director of Matpriskollen.

According to the survey, food prices increased by 17.8 per cent year-on-year in February.

Within the context of rampant inflation, many Swedish people have changed their purchasing habits, Swedish Television (SVT) recently reported.

“Nearly eight out of ten have made changes to where, what and how much they buy,” said Arturo Arques, a private economist at Swedbank.

Arques told SVT that around 20 percent of the 3,100 Swedish consumers surveyed said they had such slim financial margins that increasing food prices were problematic.

The most affected were “the unemployed, students, elderly with low pensions, those on sick leave and single parents — mainly women,” Arques said.

According to the latest data released by Statistics Sweden in February, 12-month inflation measured by the Consumer Price Index
stood at 11.7 per cent in January.