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A jump of 24.5% in meat and poultry, 18% in pasta… Products sold in supermarkets are greatly affected by inflation, which is around 7% on the shelves in August for a year, and could go up to 10% at the end of the year. In a statement released Thursday, prominent retail panelist NielsenIQ notes that “consumer product price increases have continued at a pace comparable to the beginning of the year.”
What level of inflation?
“Inflation did not take a vacation in July/August,” indicates NielsenIQ, which notes an increase in the average price of so-called consumer products -those that households usually buy in supermarkets- of 6.6% in August.
“An inflation outlook of +10% by the end of 2022 is confirmed,” notes NielsenIQ, according to which all product categories were sold in August at a higher price than the previous year.
Another specialist in the measurement of prices in supermarkets, the IRI, for its part estimated the rise in the prices of consumer products and fresh products by 7.9% in August, in a barometer published this Thursday by the specialized media LSA.
Which products increased the most?
The categories of products whose prices increased the most were meat, poultry and delicatessen, with an increase of 24.5%, pasta (+18.3%), paper towels (+16%), oil (+15.7%) , butter, margarine and fresh cream (+13%).
First price products and those known as “private label”, that is, created by the brands that market them, have seen their prices increase by more than three points more than national brand products, NielsenIQ points out again. This is due in particular to the fact that the costs of production and agricultural raw materials, which have been strongly inflationary since mid-2021, represent a higher proportion of its price compared to the country brand, where marketing spending is higher.
The panelist points out that “the summer categories are somewhat less affected by inflation than the average”. For example, ice cream prices rose 2.53% between June and August, beer 1.87% and insecticides 1.25%.
What impact for households?
In June, the Inflation Observatory of the magazine 60 million consumers, of which the NielsenIQ Institute is a partner, evaluated the impact of these 7% price increases on 30 euros of additional spending per household per month.
To deal with this, consumers are moving down the market, forgoing certain products that are considered lower priorities or turning to brands considered to be the highest bidders in terms of price.
Economy Minister Bruno Le Maire said Wednesday on France 5 that “we should not expect an improvement on the inflation front before the start of 2023.”