Swedish Government to Meet Supermarkets Amid Rising Food Prices and Consumer Backlash

Swedish government officials will meet major grocery chains on Thursday to address soaring food prices and growing public anger.

Food prices rose by 3.9% in February compared to the previous year, marking the highest annual increase in two years, according to official data.

Independent watchdog Matpriskollen reported a 19.1% rise in grocery prices over the past two years.

The surge has sparked an online campaign calling for a boycott of Sweden’s leading supermarket chains to pressure them into lowering prices.

Finance Minister Elisabeth Svantesson and Rural Affairs Minister Peter Kullgren will meet with ICA, Coop, and Axfood — which control 90% of the market — to discuss solutions.

The Swedish Competition Authority previously criticized the market for lacking healthy competition, suggesting prices exceeded justified production costs.

Supermarkets blame external factors like the Covid pandemic, the war in Ukraine, and inflation for the hikes.

Dairy products, including butter, milk, and cheese, are among the most affected, with butter prices rising 26% in a year.

Consumers in areas like Skarholmen, Stockholm, are turning to smaller, independent grocers offering competitive prices on specialty goods.