Inflation in Sweden has just hit its highest level since 1991

A view of Stockholm, Sweden on December 21, 2020
A view of Stockholm, Sweden on December 21, 2020 Copyright Credit: Reuters
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Surging prices, exacerbated by Russia's war in Ukraine, are fuelling the problem.


Inflation in Sweden increased last month to its highest level since 1991, officials said on Thursday, as countries worldwide grapple with surging prices exacerbated by Russia's war in Ukraine.

The consumer price index rose 6.4% in April from a year ago and was up from 6.1% in March, according to official figures from Statistics Sweden.

There was a “continued widespread price increase in April, including food, household equipment, restaurant visits and hotels,” statistician Mikael Nordin said.

High energy prices also were fueling inflation, a key factor in the rest of Europe and other parts of the world amid fears that the war may lead to an interruption of oil or natural gas supplies from Russia.

Statistics Sweden said food prices increased, with meat and vegetables being “the primary contributors” for the hike. Clothing and books saw seasonal price increases, while furnishing and household equipment prices “have now risen for six consecutive months.”

Prices also increased for home repairs and maintenance, transportation and other goods and services, the agency said.

Sweden, a member of the European Union, is not among the 19 countries that use the euro currency. Annual inflation in the eurozone hit a record-high 7.5% last month.

The US saw consumer prices jump 8.3% last month from a year ago, remaining close to a four-decade high.

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