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Food products from the low-price segment have become more expensive than average over the past four years.
This is the conclusion reached by the Association for Consumer Information (VKI) after examining the prices of the four market leaders in food retailing (Spar, Billa, Hofer, and Lidl). The price difference between discounters and supermarkets is dwindling, and price comparisons are more important than ever.
Food prices in discount stores increased.
In 2018, the gap between discount stores and supermarkets was still 6 percent; this year, it has halved to 3 percent, VKI notes. Compared to July 2018, “entry-level price products” have become 22 to 27 percent more expensive in August 2022. Brand-name products have become more expensive by 22 to 24 percent and thus slightly less, but also significantly above the general inflation rate.
Smallest price increase for organic goods
The smallest price increase was for organic goods, at 15 to 17 percent. This is in line with the overall rise in consumer prices (CPI) of around 16 percent over this period.
Substantial price jumps for individual items in the low-price segment
“The considerable price jumps of individual items in the low-price segment were striking,” VKI writes. The cost of vegetable oils had at least doubled in the four years; in one case, it had risen by 144 percent.
Price increases for flour, pasta, and toast bread of 50 to 70 percent
But also with assorted bread, toast bread, flour,r or noodles, there had been frequent price increases of 50 to 70 percent. This also applies to various frozen products or extra sausage.
Although branded products had risen in price by a similar amount on average, there had only rarely been extreme price jumps of over 50 percent. The companies’ brands and private labels “tend to be” more expensive than branded products.
“If you want to buy as cheaply as possible at the moment, you should always compare prices extensively,” advises Christian Kornherr, head of the VKI’s investigation department.
source: vienna.at/picture: pixabay.com
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