Food prices have increased by 25 percent over three years. But almost everything came in 2022 and 2023 when inflation took off. Last year, the increase stopped at 2.8 percent after ticking up 0.1-0.2 percent per month, according to the price comparison site Matpriskollen's measurements.
Even though the price increases have calmed down, certain products have risen even more. This concerns coffee, cocoa, olive oil, and dairy products. At least the first ones are strongly climate-related and are linked to poor harvests.
Raw material prices have risen sharply, with some delay in the stores.
So we haven't seen the end of the price increases, says Ulf Mazur, CEO of Matpriskollen.
Demand for dairy products
For dairy products, demand in Europe is greater than supply for the time being. Farmers have steadily received more pay for milk, and this will eventually affect the retail level.
There is still an upward price pressure on dairy products, says Mazur.
Moreover, food producers, according to him, are profit-wise pressured. They may therefore come to raise prices more, especially when the stores' own, generally cheaper, brands take an increasingly larger share of sales.
Differs greatly
But it is possible to press costs. There is a big difference between the cheapest and most expensive store, up to 20 percent, and on individual products even more, according to Ulf Mazur.
Among the different food chains, Willys is generally the cheapest, with Ica Maxi close behind. Lidl often matches Willys on directly comparable prices. Stora Coop has also generally raised prices less this year than several other store chains, such as Hemköp and Ica Supermarket, according to Ulf Mazur.
But there are also products that have become cheaper during the year. Among them are fruit and vegetables after good harvests. Chicken has also fallen in price.
Food groups that have increased the most in price in 2024:
Chocolate, + 17 percent
Oil and Vinegar, +12 percent
Coffee, +11 percent
Milk and Cream, +8 percent
Fruit Mix/Berry Mix, +8 percent
Sliced Cheese/Hard Cheese, +7 percent
These food products have decreased the most in price:
Fruit, -4 percent
Fresh Vegetables, -4 percent
Cheese Spread and Cheese Butter, -3 percent
Chicken and Poultry, -3 percent
Plant-based Dairy, -2 percent
Ice Cream Dessert, -2 percent
Nuts, -2 percent
Source: Matpriskollen
