Economy

Housing allowance applications decrease despite tough times : The Swedish Social Insurance Agency has seen a significant decrease in the number of applications for housing allowance, even lower than before the pandemic. The agency speculates that the low-income threshold may be preventing eligible individuals from applying for financial support. Last year, 79,000 households had to repay excess allowance, putting them in debt.

Cheapest electricity in years : The average price of electricity in Southern Sweden has dropped significantly, reaching 31 öre per kWh in August compared to over three kronor per kWh last year. This decrease in prices is reflected in other parts of the country as well, with some areas experiencing the lowest monthly prices in three years. The low prices are attributed to factors such as normal gas prices, well-filled water reservoirs, and the addition of the Olkiluoto 3 reactor to the market. Winter forecasts indicate favorable prices with no shortage expected.

New record low for the Swedish krona : The Swedish krona has hit a new record low against the euro and the dollar, with factors such as higher international interest rates and shaky stock markets contributing to its depreciation. The weakening krona is expected to continue, leading to increased inflationary pressure and the possibility of further interest rate hikes by the Swedish Riksbank.