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Food prices are rising again

Food prices are rising again. The increase in September is the largest in several months, according to new figures from the Food Price Index. Every percent is several billion in higher food costs, says Ulf Mazur at the Food Price Index.

» Updated: 06 October 2024, 07:07

» Published: 04 October 2024

Food prices are rising again
Photo: Anders Wiklund/TT

According to the site's latest review, prices rose by 0.2 percent in September, which is the largest increase since February.

When we measure, it has been around plus minus zero for the past few months. 0.2 percent doesn't sound like much, but it's a mega-industry, so every percent is several billion in higher food costs, says Ulf Mazur.

Taking off

Certain products that have been high in price for a long time are increasing further, not least chocolate, which rose by 4.8 percent during the month of September. The reason is the high prices of cocoa beans.

Chocolate continues to take off, says Mazur.

Goods such as orange juice and coffee, which have also risen significantly in price, continue to rise. The price of berries and fruit is also increasing, up 3.5 and 2.5 percent, respectively.

The price of olive oil fell slightly in September, but has risen by nearly 20 percent over the past year.

Many may hope that inflation will decrease and that it will then become cheaper, but it's not plummeting and overall, it's not becoming cheaper.

"More to come"

The food price index also sees an increase in dairy products, which have become more expensive just in the past few days. There, they believe that prices will rise even more.

More is coming in October.

What will happen going forward, then? It's hard to say.

The producers' costs are generally not increasing in all cases. It's a good sign that they won't have to raise prices for the chains. There are no major general things that would make prices start to rise going forward. It's if something happens with the wars or if we see further climate impact, says Ulf Mazur.

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By TTThis article has been altered and translated by Sweden Herald

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