Grocery prices in Sweden have stabilized after recent fluctuations, reports Matpriskollen

Since September 1, 2023, grocery prices have risen by approximately 2.2%. However, over the past month, the overall prices in supermarkets have remained stable, according to Matpriskollen. Ulf Mazur, the CEO of Matpriskollen, noted that their analysis covered over 43,000 products, revealing that prices remained unchanged from the beginning to the end of August.

There have been significant price reductions among popular plant-based margarine products, suggesting a price war between plant-based and animal-based spreads. For instance, Flora and Lätta, sold in 600-gram packages, have seen price decreases of up to 25% at some retailers, likely aimed at capturing market share from animal-based alternatives like Bregott. Additionally, fresh vegetables have also decreased in price by 1.2% during August, which is typical for this time of year due to increased crop availability.

Conversely, fruit, berries, and particularly chocolate have become more expensive. The chocolate category saw a price increase of 2.3%, driven by historically high cocoa bean prices. Overall, food prices have risen by about 24% since January 2022, but the increase for food-related products in the past six months has been a modest 0.8%.

After announcing price reductions of at least one billion from March 1, Ica has reportedly raised its prices more quickly than its competitors since that time. In August, the biggest price increases included chocolate (2.3%), fruit (1.6%), and berries (1.1%), while fruit and berry mixes, pantry items, and food fats saw slight declines.