In a reversal of recent trends, food prices in Sweden dipped in March compared to February. Statistics Sweden (SCB) reports a 0.7% decrease in average prices for food and non-alcoholic beverages.
This shift is driven primarily by falling food costs. Notably, food prices dropped by 0.8% in March compared to February, marking the steepest decline between two months since April 2023.
SCB price statistician Caroline Neander highlights this in a press release, stating, "Food prices typically rise in March compared to February. This significant decrease is unusual."
Fruits and vegetables led the price decline in March, with drops of 3.5% and 1.6% respectively. Oils and fats also saw a decrease of 1.8%, while meat prices fell by 1.2%.
Looking at the year-over-year trend, food and non-alcoholic beverages continue the positive trend, with a combined price decrease of 0.7% since March 2023.
Even more significantly, food prices alone have dropped 1.0% year-over-year. "This is the first annual decrease in food prices since July 2021," emphasizes Neander.