75 Percent of Swedes 'Very Worried' Over Inflation Impact on Economy

Data published by Statistics Sweden earlier this month indicated that the country’s inflation rate reached eight percent in July, following record-breaking figures for four consecutive months.

At least 75 percent of Swedes are concerned about the negative impact of inflation on the country’s economy, a new poll has revealed.

The Swedish broadcaster SVT reported that the survey conducted by Novus pollster found that around three quarters of those asked are “somewhat” or “very worried” over inflation.

According to the poll, respondents who were especially uneasy included women aged between 30 and 49, “low-income earners” and people who live in rented accommodation.

Commenting on the results of the survey, Novus Chief Executive Torbjorn Sjostrom told SVT that “the clearest link to inflation is the electricity prices, because they are so high now, especially in southern Sweden.”

The remarks followed Swedish Finance Minister Mikael Damberg telling reporters on Thursday that the country faces an economic recession in the month to come.

“We are witnessing a downturn in the Swedish economy, lower growth, higher inflation and rising unemployment,” he said, warning of “significant risks of high inflation in 2023”.

Last month, Sweden’s statistics bureau reported that the country’s inflation reached 8.5 percent in June, the highest level since December 1991, when it was 7.8 percent. Rising food prices added significantly to the inflation rate, Carl Martensson, a price statistician at Statistics Sweden, said in the bureau’s press release.