As you’ve no doubt heard, Sweden is currently experiencing the highest rate of inflation in many years. Inflation is a key economic indicator that affects people’s daily lives. In Sweden, inflation has been relatively low in recent years, but in 2023, the country is experiencing a surge in inflation, the highest it’s been since the early 90’s. The inflation rate has been steadily increasing since the beginning of the year, and it is expected to remain high in the coming months.
What does this mean for you?
Inflation can have a significant impact on the cost of living, and people may notice its effects in various areas of their lives. A couple key areas where you might notice prices increasing are food prices, housing costs, transportation, clothing and consumer goods, and electricity. While some rising costs, such as electricity, are not primarily due to inflation, others, like transportation, may be especially noticeable as we travel and commute more post-pandemic.
What can you do?
Here are three handy things you can try:
Use a cashback service
For most purchases you make online, the retailer will pay a commission to whatever service brought you to their website, such as Google, with no benefit to you. Our partner Refunder flips this model on it’s head, and shares this commission with you! So you get real cashback on online purchases at over 1000 stores. They cover everything from grocery stores to clothing and consumer goods and even some electricity services, so by checking Refunders service before you make a purchase online you can often get several percent real money cashback on purchases you would have made anyway, directly combatting rising prices.
Don’t leave money on the table
Almost all major retailers today offer loyalty points, special discounts and other rewards for members. So don’t leave any money on the table, and make sure you’re signed up for the retailers customer club and make sure to use any coupons they have available! More than 7500 locations accept Freja as a physical ID when signing up for a loyalty club or registering purchases as a member, and with if you’re a student you can often find additional discount coupons with STUK.
Buy second hand
A clever way to avoid paying more money for clothing and other items, is to buy second hand! While many people enjoy buying pre-loved items to ride the fashion trends of yesteryear and find unique vintage pieces, it’s also often cheaper than buying new items and better for the environment. While there are lots of snazzy services for this, we’re still strong advocates for your local second hand store, many of which, such as Stockholms Stadsmission, are run by charities that do good for the local community. And if you’re buying directly from other people online via buy&sell websites or groups on social media, you can use Freja’s peer-to-peer identification to avoid getting scammed!
In summary
Inflation is a significant economic indicator that affects people’s daily lives in a very noticeable way. In Sweden, the surge in inflation in 2023 is likely to affect the cost of living in various areas, such as food, housing, transportation, clothing and consumer goods. However, you can take steps to combat this by using cashback services, making sure to access all of the deals and discounts retailers are offering, and buying second hand!
