SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Despite Food Price Promises – Worse Profitability

» Updated: 17 September 2024, 05:32

» Published: 16 September 2024

Despite Food Price Promises – Worse Profitability
Photo: Caisa Rasmussen/TT

Despite the significant price increases on store shelves during the inflation shock of 2022 and 2023, profitability in the food industry has not increased, according to an analysis by Statistics Sweden (SCB).

Within daily goods retail – i.e., the retail sector – profitability has decreased since 2021.

"Although food prices rose sharply in 2022, the profitability of the food industry decreased the same year. The decline continued in 2023 and the first half of 2024," says Daniel Lennartsson, statistician at SCB, in a press release.

Wholesale is the only sector that increased profitability, measured as operating margin in percent, during the years 2022-2023, but it is pointing downward during the first half of 2024.

Total operating margin for the food industry decreased to 2.2 percent on average in 2022, down from 2.4 percent during the years 2012-2021. The decline continued to 2.0 percent in 2023 and was down to 1.1 percent in the first half of this year, according to SCB.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

One of the world's richest accused of bribery
1 MIN READ

One of the world's richest accused of bribery

This is how Musk will save billions
2 MIN READ

This is how Musk will save billions

Yet Another Extremely Strong Report from Nvidia
2 MIN READ

Yet Another Extremely Strong Report from Nvidia

Better than expected for Nvidia
1 MIN READ

Better than expected for Nvidia

Department store giant sinks on Wall Street
1 MIN READ

Department store giant sinks on Wall Street

The FI's Advice: Have Accounts in Multiple Banks
1 MIN READ

The FI's Advice: Have Accounts in Multiple Banks

Break in Trend - Household Costs No Longer Rising
2 MIN READ

Break in Trend - Household Costs No Longer Rising

4,000 to Leave the Car Giant
1 MIN READ

4,000 to Leave the Car Giant

The VW Union Takes a Stand Against Factory Closures
1 MIN READ

The VW Union Takes a Stand Against Factory Closures

Slovakian Nuclear Power Plant Plan Approved
1 MIN READ

Slovakian Nuclear Power Plant Plan Approved

Giant boost for Turkish minimum wages on the way
1 MIN READ

Giant boost for Turkish minimum wages on the way

6 MIN READ

Reduced risk of power crisis in winter
1 MIN READ

Reduced risk of power crisis in winter

Trump's Minister Paves the Way for Quick Tariff Decision
3 MIN READ

Trump's Minister Paves the Way for Quick Tariff Decision

Tough times for Chinese car giant
1 MIN READ

Tough times for Chinese car giant

Double rate cut of Icelandic interest rate
1 MIN READ

Double rate cut of Icelandic interest rate

Down on the stock exchange for the fourth day in a row
1 MIN READ

Down on the stock exchange for the fourth day in a row

The Gaming Company's Stock Soars - Confirms Purchase Inquiry
1 MIN READ

The Gaming Company's Stock Soars - Confirms Purchase Inquiry

Japan Sets Tourist Record - Attracts increasing number of tourists
1 MIN READ

Japan Sets Tourist Record - Attracts increasing number of tourists

Denmark's economy is picking up.
1 MIN READ

Denmark's economy is picking up.