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Supermarket Prices Falling: Analysis Shows Decrease in Grocery Costs

ANP

NOS Nieuws•vandaag, 06:00

Ruben Eg

editor Economics

Jeroen Schutijser

reporter Economy

Ruben Eg

editor Economics

Jeroen Schutijser

reporter Economy

After months of increases, the prices of various products in the supermarket are slowly but surely falling. Cucumbers, strawberries, eggplants and melons are now even cheaper than a year ago, according to an analysis that data agency Hiiper made of supermarket prices and receipts at the request of the NOS.

According to Joep Smeets of Hiiper, the price decreases of daily groceries are not only related to the season, for example due to the beautiful spring. “Something is really going on in the supermarket. It’s not like they’re all tumbling over each other. But the price weapon has been drawn. There is now also more room for it because energy prices are falling.”

Noughts and crosses

Prices in dairy are also falling more and more towards normal. For example, at the beginning of this year, butter was still a quarter more expensive than in March 2022. The price is currently only slightly above that of June 2022.

Milk was 25 percent more expensive at the beginning of this year, now it is 17 percent more expensive. Partly due to the falling milk prices, the price of cheese is also falling.

Below you can see that the price increases for various products have leveled off in recent months, or that products are even cheaper than a year earlier:

NOS

Also noteworthy is the fall in the price of eggs. That is still 19 percent above that of June last year, but in the first quarter the price difference with a year earlier was no less than 30 percent.

House brands

Consumers also seem to be paying more and more attention to price due to the severe inflation. A-brands are increasingly losing out to house brands, Hiiper discovered. In addition to current supermarket prices, the agency also looks at receipts shared by consumers. “We also see more and more customers going to discounters. People are clearly opting for affordability over luxury and service departments,” says Smeets.

Last month, inflation in the Netherlands was 5.7 percent, the Central Bureau of Statistics (CBS) reported on Tuesday. Compared to a year ago, food price increases together amounted to 13 percent, according to Statistics Netherlands.

All in all, according to Hiiper, prices are still above those of a year ago. “The peak in price increases is behind us. In total, prices are still 16 percent above those of a year ago. And that just hurts the consumer’s wallet,” says Smeets. For the NOS, Hiiper only looked at the prices in the supermarket, with the costs of daily products taking the heaviest weight.

More aspects

In addition to falling energy prices and competition from supermarkets, various products are becoming less expensive. For example, according to growers, cucumbers are falling in price due to overproduction and eggs are becoming cheaper, according to the Dutch Association of Egg Traders, due to the end of the restrictions due to bird flu. In addition, many eggs from Ukraine are now coming to the Dutch market.

2023-07-13 04:00:01
#Butter #cheese #eggs #supers #cut #prices

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