Supermarket products prices rose 2.75% in February 2024 compared to the same period last year, according to research conducted by the Institute of Retail Consumer Goods Research (IELKA) on major supermarket chains.
This figure reflects a slight decrease compared to the 3% inflation rate observed in January 2024.
The most significant decreases:
-cheese products (-3.70%)
-dairy products (-3.39%)
-paper products, cosmetics, and personal care items (-1.22%)
-disposable items (-0.37%)
-eggs & butter (-0.10%)
The decline in dairy product prices can be attributed to both market stabilization post-pandemic and a reduction in producer prices for select items.
The most significant increases:
-food and pet items (11.2%)
– water and soft drinks (11.2%)
-fresh fruits and vegetables (7.46%)
-biscuits, chocolates and confectionery (6.78%)
-nuts and snacks (6.67%)
The rise in prices for fresh produce throughout 2023 is attributed to increased production costs, extreme weather conditions, and international fluctuations in raw material prices. Similarly, chocolate products have been impacted by surges in international cocoa and sugar prices.
