Latest news with #StatisticsSweden
Local Sweden
3 days ago
- Business
- Local Sweden
More than half of non-European immigrants leaving Sweden have university education
More than half of the non-European immigrants who left Sweden last year had tertiary education, new figures have shown. Advertisement New figures collected by Statistics Sweden on behalf of Swedish public broadcaster Ekot show that the majority of non-European immigrants leaving the country last year had completed studies beyond upper secondary school. Of the 17,000 non-European immigrants between 25 and 65 years old who were registered as having left Sweden last year, 57 percent had post-upper secondary qualifications, essentially equivalent to a university or college education. READ ALSO: Why you could land a job in Sweden but still leave within a year There is little research available as to why people leave Sweden, but Andrea Monti, doctor in sociological demographics at Mälardalens University, said that it could be due to the fact that many struggle to find work that matches their qualifications. 'Maybe you can't use your qualifications, or you don't get the same job or income you expected,' she told Ekot, adding that previous studies have indicated this is one of the reasons many leave the country. Advertisement Patrick Joyce, chief economist of the employer's organisation Almega, told Ekot that the country "definitely underutilised the group of highly educated migrants living in Sweden". He added that the housing situation ‒ particularly in Stockholm ‒ the falling quality of schools, low salaries and a weak krona are all contributing factors to why people leave the country.
Local Sweden
6 days ago
- Business
- Local Sweden
Which food items got more expensive in Sweden last month?
Food prices in Sweden were roughly the same last month as the month before, but some specific products saw a huge price increase. Which items got more expensive? Advertisement The items which saw the largest price increases in June were leeks and berries, according to new figures released by Statistics Sweden. The price of food and alcohol-free drinks was largely unchanged in June compared to May. The year-on-year increase between June 2025 and June 2024, however, was 5.3 percent. Berries saw a price increase of 16.9 percent between May and June this year, with leeks coming in just behind on 16.7 percent. Despite this, leeks are still much cheaper than they were a year ago, with a price decrease of 31.6 percent since this time last year. Berries and leeks weren't the only fruits and veg to see a price increase in June. The price of pears went up by 8.8 percent, while apples and grapes both increased by 7.4 percent. Cucumbers saw a price increase of 8.7 percent, with cauliflowers rising 5.9 percent and carrots 4 percent. READ ALSO: Eight ways to save money on food and drink in Sweden Not everything went up in price last month. Honeydew melons dropped by 15 percent, while traditional Midsummer fare like pickled herring and potatoes also dropped in price (-13.6 and -5.7 percent respectively). Napa cabbage saw a price drop of 9.9 percent, cider dropped by 7 percent and tomatoes dropped by 6.4 percent. In general, fruit went up by 2.9 percent in June compared with May, or 5.2 percent since June last year, while vegetables saw a drop of 0.9 percent over the last month and 1.7 percent over the last year. Advertisement Sweets and ice cream saw a year-on-year increase of 10.3 percent, with a marginal price increase between May and June. Dairy products saw a similar pattern ‒ cream and hard cheeses saw 15.6 and 12.3 percent increases respectively year-on-year, but very small increases of just 0.2 and 0.09 percent month-on-month. Good news for caffeine addicts ‒ the price of coffee only went up by one percent last month. Prices remain much higher than last year, however, with a year-on-year increase of a whopping 46 percent.
Local Sweden
11-07-2025
- Business
- Local Sweden
How likely is it that Sweden lowers the key interest rate in August?
Many experts predicted that Sweden's central bank, the Riksbank, would lower the key interest rate at its next meeting in August. Have higher-than-expected inflation rates changed that prediction? Advertisement Two weeks ago, a report from economists at major Swedish bank SEB put the chance of a cut to the interest rate in August at 36 percent. Now, that figure has dropped to 20 percent, according to an analysis of the fixed-income market. The main reason for the drop is the higher-than-expected inflation figures for June which Statistics Sweden released on July 7th. Those figures showed that CPIF inflation in June rose to 2.9 percent. Not only was that higher than the 2.3 percent the country saw in May, but it was also higher than expected ‒ economists had predicted a figure of 2.5 percent. CPIF inflation (which removes mortgage rates from the consumer price index) is the figure used by the Riksbank central bank. It has a target of 2 percent, much lower than the inflation figures reported in June. Now, the fixed-income market is predicting the next rate cut ‒ a cut of 0.25 percentage points to 1.75 percent ‒ will take place this autumn instead of in August, potentially as late as December this year. After that cut, the market predicts a very small chance of further cuts from the Riksbank. Just two weeks ago, the market believed there was a high chance of a cut in August followed by at least one more cut this year. Advertisement The Riksbank itself hinted that there could be another cut later this year, putting the chances of that happening at around 50 percent at its last meeting at the end of June. The policy rate is the central bank's main monetary policy tool. It decides which rates Swedish banks can deposit in and borrow money from the Riksbank, which in turn affects the banks' own interest rates on savings, loans and mortgages. If bank interest rates are high, it's expensive to borrow money, which means people spend less and as a result inflation drops.
New Straits Times
10-07-2025
- Business
- New Straits Times
Swedish GDP shrinks 0.2pct in May from April
STOCKHOLM: Sweden's gross domestic product (GDP) shrank 0.2 per cent in May from April, preliminary data from the statistics office showed on Thursday. Compared to a year ago, GDP was 0.5 per cent higher, the data showed. "The Swedish economy saw a minor contraction in May, weighed down by lower output in service-producing industries and general government," Statistics Sweden said in a statement. "Seen from the use side of the economy, the downturn was explained among other factors by lower figures for household consumption and a weakening of net exports concerning goods." The economy stalled and shrank 0.2 per cent in the first quarter as a whole. On June 18, the central bank cut its key rate to 2.00 per cent to help boost growth and said a benign outlook for inflation meant it might be possible to ease monetary policy again this year. However, June inflation came in well above the Riksbank's and analysts' forecasts, leaving rate-setters with a difficult decision when they meet next in August. Other data on Thursday showed household consumption decreased 1.2 per cent in May from April, while private production slipped 0.1 per cent from the previous month.
Local Sweden
07-07-2025
- Business
- Local Sweden
Economists 'concerned' about higher than expected Swedish inflation
Swedish inflation figures saw an unexpected rise last month, which has concerned economists and lowered the chances of the central bank cutting the interest rate at its next meeting in August. Advertisement "There probably won't be a cut to the interest rate until we see confirmation that this was an exception rather than a trend," Alexandra Stråberg, head economist at Länsförsäkringar, told the TT newswire. CPIF Inflation in June rose to 2.9 percent. Not only was that higher than the 2.3 percent the country saw in May, but it was also higher than expected ‒ economists had predicted a figure of 2.5 percent. CPIF inflation is the figure used by the Riksbank central bank. It has a target of 2 percent, much lower than the inflation figures reported in June. "We knew inflation was going to rise but it's a bit surprising that the result was so much higher than expected," Swedbank chief economist Mattias Persson said. "It's gone the wrong way and that's a bit concerning." These figures are Statistics Sweden's preliminary figures, with more in-depth statistics provided next week. Persson believed that the increase could be due to so-called base effects, which change when Statistics Sweden make yearly alterations to its measurements. Stråberg agreed, while adding that the figures were still quite high. "It's a bit high for that," she said, adding that the figures could make it difficult for the Riksbank to decide how to proceed with its fiscal policy. Advertisement At the bank's last meeting in June, it lowered the key interest rate to 2 percent. The next announcement is scheduled for August 20th, but higher-than-expected inflation figures make the chance of another cut at that meeting less likely. Robert Boije, head economist at SBAB, believes that the inflation rate for June has all but wiped out any chance of a cut in August. At the same time, economic recovery is slow, which has lead Persson from Swedbank to predict a cut in September instead. "I still think we need another cut, and I wouldn't rule out the possibility of them moving that further into the future," he said. "We also need to remember that Trump is set to announce his tariffs this week." He added that the uncertainty surrounding tariff discussions between the EU, Sweden and the US are "concerning." He's also not convinced that US President Donald Trump will make a U-turn on tariff decisions at the last minute, a behaviour that has led to the coining of the term TACO, 'Trump Always Chickens Out'. "I think insecurity will rise this week," he said. "I think we've been living in some sort of TACO-coma and am worried that now Trump has passed his budget he believes he can do whatever he wants politically."
