Sweden's Finance Minister Pushes for Lower Food Prices Amid Talks

The Minister of Finance hopes for a stop to price increases and even lower prices on certain goods. She says this ahead of the meeting with the "food giants" who she thinks should acknowledge that poor competition leads to higher prices.

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Sweden's Finance Minister Pushes for Lower Food Prices Amid Talks
Photo: Christine Olsson/TT

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It's extremely tough for many, everyone needs to understand that, says the Minister, Elisabeth Svantesson (M), who, together with Rural Affairs Minister Peter Kullgren (KD), is hosting a meeting with the major players in the food retail industry at the Government Offices on Thursday.

Two years ago, she called a similar meeting and claims that it contributed to prices being dampened.

We want to hear how they view the situation, why are food prices rising again now? I assume there are several factors, but I want to hear their take on it, says Svantesson, emphasizing the importance of dialogue.

Dampen Prices

She believes that she and the government, for example by reducing taxes, have done their part to make food shopping easier for citizens. But what does the industry want?

I want to know what they plan to do to dampen these price increases and if there are things that politics can do.

She notes that she is being criticized by the business community, even being called fact-resistant and claiming that she is not receptive to reasonable arguments about why prices are rising. That's not true, according to her.

Should Acknowledge

Svantesson blames poor competition for part of the price development.

It's an oligopolistic market with a few large players, and that affects pricing, of course. They need to take that on board and acknowledge that it's poor competition. But they don't want to, says Svantesson about the industry's actions.

She adds that she would like nothing more than for Swedish companies, retailers, and farmers to do well.

And for households not to see these price increases and to be able to afford their food shopping.

She says it's important to her to stand on the side of the Swedes.

There are many hard-working people who see their wages and savings being eroded. And prices and rents are high.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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