Tue, 31 Jan 2023

EU country faces drastic food inflation

RT.com
27 Nov 2022, 23:23 GMT+10

Swedish households are struggling with rising costs for basic goods and energy, the latest report shows

Food prices in Sweden have jumped by 20% this year, while electricity bills have more than doubled, data released by the country's Consumer Agency shows.

The report is based on research of the Swedish consumer market throughout the year and analyzes food, energy, hygiene items, footwear and clothing prices.

This data, together with consumer standards approved by the country's government, is being used to determine an average level of income which requires social assistance.

This year, the monthly consumer basket for one adult is estimated at 3,400 krona ($363). For a family of two adults and two schoolchildren this figure stands at 10,700 krona ($1,142) and is based on a four-week nutrition plan recommended by Swedish diet experts.

"In our calculations we are taking into account only basic needs and not some luxurious consumption," a manager from the Swedish Consumer Agency, Kristina Difs, said in a statement. She noted that usually an increase in annual expenses is insignificant, while this year "we have seen numbers quickly lose relevance."

READ MORE: EU nation's property market slump deepens

The Agency recorded a particularly dramatic change in prices in Sweden due to extraordinary food and energy inflation.

For more stories on economy & finance visit RT's business section

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