In a striking reflection of current economic sentiments, Swedish trust in the food retail giant Ica has plummeted, according to the latest Förtroendebarometer survey.

The survey reveals a significant 11 percentage point drop in confidence for Ica, marking a decline to just 38 percent of Swedes expressing high levels of trust in the company.

This downturn is part of a broader trend of declining trust in food retailers, amidst rising food prices and substantial corporate dividends.

Despite this downturn, Ica still narrowly surpasses its competitor Coop by one percentage point.

Meanwhile, institutions like the police and the Swedish Church are seeing an uptick in public trust, highlighting a shifting landscape of confidence among Swedes.