STOCKHOLM, 14 June (Xinhua) – Swedish consumers are experiencing the highest inflation since 1991, when consumer prices, measured by fixed interest rates, rose from 6.4 per cent in April to 7.2 per cent in May, Statistics Sweden stated on Tuesday.
Energy prices rose the most, with fuel prices rising by 41.8 per cent in one year and electricity prices rising by 33.6 per cent. Unlike previous years, when the price of power fell in the spring due to declining demand, it rose by 4.1 per cent in May.
Food prices have also risen significantly. Meat prices rose by 4.4 per cent in May, while costs for eggs and dairy products increased by 3.5 per cent from April to May.
At the same time, the costs of owning a condominium increased by 7.2 percent compared with May 2021. Homeowners did even worse, with costs increasing on average by 8.1 percent from year to year.
Anders Nordberg, senior economist at the insurance company Lansforsakringar, tells Swedish Television that tenants and the unemployed will be hit hardest by soaring inflation.
“These groups are affected (not only) by higher prices but also by rising rents in the long run, as rents adjust to inflation,” he said.