A nationwide boycott of Sweden’s largest food retailers has begun as consumers protest against rising grocery prices. The movement, which originated on social media, is gaining traction, with tens of thousands of Swedes pledging to avoid major supermarket chains such as ICA, Coop, and Axfood starting March 17.
Food prices have soared in Sweden
Over the past two years, food prices in Sweden have surged by 22%, straining household budgets already burdened by high interest rates. The latest inflation data from Statistiska centralbyrån (SCB) reveals that food prices rose by 3.9% in February 2024 compared to the same period in 2023. This marks the highest year-on-year increase in over a year, with dairy products, coffee, and cooking oils among the items experiencing the steepest price hikes.
Political leaders respond to the boycott
The boycott has sparked reactions from Sweden’s political leaders. Nooshi Dadgostar, leader of the Left Party (Vänsterpartiet), has openly supported the movement, labeling current food prices as “daylight robbery” and announcing that she will personally boycott ICA.
Conversely, Prime Minister Ulf Kristersson of the Moderate Party (Moderaterna) has stated that he will not participate in the boycott, arguing that it is not his role as head of government to boycott Swedish companies. However, he acknowledged concerns over high living costs and announced a meeting with major food retailers to discuss potential solutions.
Johan Pehrson, leader of the Liberal Party (Liberalerna), expressed sympathy for struggling families and suggested that adopting the euro could have shielded Sweden from such inflationary pressures. Meanwhile, Green Party (Miljöpartiet) representative Daniel Helldén recognized public frustration but opted not to participate in the boycott.
What impact could the boycott have?
While the boycott aims to pressure supermarkets into lowering prices, its effectiveness remains uncertain. Retail chains argue that supply chain costs, energy prices, and international market trends are driving price increases.
Economic experts note that food markets in Sweden lack competition, as a few dominant retailers control the majority of the industry. In response, the Centre Party (Centerpartiet) has proposed strengthening Sweden’s Competition Authority (Konkurrensverket) to ensure better oversight and enforcement of fair pricing practices.
Public frustration fuels the movement
With the cost of essentials continuing to rise, Swedes are increasingly seeking ways to make their voices heard. Whether this boycott will lead to tangible price reductions or serve as a symbolic protest remains to be seen. However, the movement underscores a broader dissatisfaction with economic policies and corporate pricing strategies in Sweden today.
As the boycott unfolds, all eyes are on retailers and policymakers to see how they will respond to the growing consumer unrest.
