Lowest ‘supermarket inflation’ in a long time: these products have become cheaper

Lowest ‘supermarket inflation’ in a long time: these products have become cheaper | Domestic

According to Testaankoop, which closely monitors changes in supermarket prices, we are currently experiencing the lowest ‘supermarket inflation’ in a long time. Inflation continues to decline and currently stands at 2.73 percent. Which products have become cheaper and which have just contributed to ‘supermarket inflation’? An unseen view.

Every month for three years, Testaankoop compares the prices of more than 3,000 products from seven supermarket chains and thus calculates ‘supermarket inflation’. Inflation was 2.73 percent in March and continues to decline. Despite the decline, supermarket costs still remain higher than in January 2022, the first month in which supermarket inflation exceeded 2 percent.

Since January 2022, our shopping basket has increased by an average of 26 percent. Therefore, the current price drop must be clarified. For example, the price of dairy products remains 28 percent higher than in January 2022, and that of bread is also 24 percent higher.

Testaankoop does not expect further sharp price drops. “However, the declines in raw material prices and energy prices indicate that there is room for price declines,” said spokesperson Ortwin Huysmans.

Cause of price increases

The prices of raw materials and energy influence the prices of food. It remains to be seen whether the lower prices of raw materials and energy will translate into rates comparable to those of January 2022.

Unfortunately, some product prices continue to rise significantly. For example, frying oil is still on average 39 percent more expensive than two years ago. In contrast, the price of vegetable oil has fallen by 52 percent in the international market since March 2022.