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Sweden rediscovers poverty as inflation soars
Hit by the highest inflation in more than 30 years and poised for recession, Sweden's visible signs of poverty are mounting amid rising inequality.
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A man purchases food at discounted prices at a Red Cross branch, where food items are donated by supermarkets twice a week, on March 14, 2023, in Stockholm, Sweden. (AFP/Jonathan Nackstrand)
I
t's not yet 6 am and dozens of homeless people are already queuing outside Stockholm's central station for breakfast, their numbers bigger than ever, charities say.
Hit by the highest inflation in more than 30 years and poised for recession, Sweden's visible signs of poverty are mounting amid rising inequality.
"So many people are coming here to breakfast," said Kavian Ferdowsi who runs a charity helping the homeless.
"In the 13 years that I've run this, we've never had so many people," he told AFP as his colleagues served up cinnamon buns and coffee.
Sweden has been hit hard by the effects of the war in Ukraine. Its currency, the krona, is weaker than it has ever been against the euro, and aggressive interest rate hikes have left many households with hefty mortgages payments.
Long stable and prosperous, Sweden's economy is now one of the worst performers in Europe.
After a spike in electricity prices at the start of the winter, food prices are now Swedes' main concern, up 20 percent from a year ago.
