Food prices in Sweden decreased by 4.1 percent in March compared to February, according to data from the price tracking website Matpriskollen. The decline was led by significant price drops for specific food items, with cheese prices falling 6.5 percent and sausage, ice cream, and snacks becoming 4 percent cheaper.
Ulf Mazur, CEO of Matpriskollen, attributed the price reductions to grocery chains anticipating the VAT reduction that took effect on April 1. "All focus was on the actual VAT reduction on April 1, and many chains lowered their prices up to a week in advance," Mazur said in a press release.
All focus was on the actual VAT reduction on April 1, and many chains lowered their prices up to a week in advance
However, official statistics from Statistics Sweden (SCB) show a smaller decrease of only 1.0 percent for food and non-alcoholic beverages in March compared to February. The discrepancy appears to stem from different measurement methodologies, with SCB measuring prices during the week when the 15th falls, while Matpriskollen conducts its measurement on the last day of the month.
On an annual basis, Matpriskollen reported food prices decreased 3.1 percent, while SCB data showed prices remained unchanged year-over-year.