Retail prices increase in October
According to the report “Retail store price index” daily purchases in October increased by an average of 5.4%. year to year. In the press release describing the report, it was noted that this is a greater year-on-year increase than that calculated according to the same methodology in September and August, when the increase was 4.9%, respectively. and 4.3 percent y/y. It was added that in October, out of 17 monitored categories, 14 showed a “single-digit increase”, in September it was 13.
As specified, “everyday shopping” included food, non-alcoholic and alcoholic beverages and other products, such as household chemicals and children’s products.
“Currently, in Poland we have one of the highest inflation rates in Europe. This situation is the result of a significant increase in energy prices and the lack of actions to support enterprises on the one hand and slow down inflation on the other. That is why most product categories are becoming more expensive” – said Dr. Artur Fiks from the University WSB Merito, quoted in the information.
Vegetables have become the most expensive
It was noted that Vegetables became the most expensive in Octoberbecause by 11.1 percent on an annual basis. It was similar in September, when vegetable prices increased by 10.8%. y/y. In October, the second category in terms of price increase were sweets and desserts – an increase of 10.4%. y/y (+8.6% y/y in September), and third place was taken by fruit with an average increase y/y. by 9.9 percent (+10.1% y/y).
“The supply of vegetables is significantly reduced after weather anomalies. Therefore, they are largely imported from abroad, and their prices are influenced by factors such as the value of the Polish zloty and the cost of transport. I would expect prices to continue to increase in this category” – assessed by Dr. Eng. Anna Motylska-Kuźma from the University of Lower Silesia, DSW. She added that the general situation also indicates that fruit prices will remain high and even increase significantly, especially in the last months of this year. and in the first quarter of 2025
Increase in prices of dry products and dairy products
Next in terms of price increases in October were dry products (sugar, flour, salt, etc.), which increased in price by 7.8%. y/y, dairy products with an increase of 7.2%. y/y, fatty products (an increase of 6.9% y/y) and stimulants (i.e. tea, coffee, beer, vodka) and non-alcoholic drinks with increases of 6.4%, respectively. and 6.3 percent y/y.
“The dynamics of dairy prices was under the pressure of reduced supply, both from limited imports from beyond our eastern border and weather conditions. In addition, Poland is slowly becoming the leader in milk production. Reduced supply to the domestic market causes a slow increase in prices observed in stores,” she said. Dr. Eng. Motylska-Kuźma.
Stimulants from abroad
Dr. Fiks, quoted in the report, said that only some stimulants are produced by Polish producers, which means that we are quickly affected by price increases on global markets. “For example, in the last 5 months the price of coffee has increased by almost 30%, which has had a significant impact on the entire category. In turn, the increase in prices of non-alcoholic beverages has stopped the drop in temperatures. However, increasing energy fees and transport costs during possible sub-zero temperatures will still increase prices this type of products,” said Fiks.
The report added that the prices of articles increased slightly in October. for children (+1.5% y/y), household chemicals (+1.2% y/y) and personal hygiene products (+0.1% y/y). Only animal food prices dropped – although slightly – (-0.4 percent y/y).
The report from which the above data comes is produced every month for almost seven years and shows the average price value recorded month by month and year by year. The report took into account 17 categories and over 100 everyday products most frequently chosen by consumers. In total, over 86,000 items were compared. retail prices from nearly 41 thousand stores belonging to 60 retail chains. The study covered all discount stores, hypermarkets, supermarkets, convenience chains and cash&carry chains that reach the majority of consumers in Poland with their offers. It was noted that the above analysis cannot be treated as a measurement of an increase or decrease in the general level of inflation. (PAP)
