June 27, 2022

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November brought another price shock.  Some merchandise in stores has increased by as much as 80 percent.

November brought another price shock. Some merchandise in stores has increased by as much as 80 percent.

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According to a report by UCE RESEARCH, Hiper-Com Poland and AdRetail Group, based on the monitoring of nearly 36 thousand. Retail prices of the largest commercial operators in Poland, it is shown in November of this year. I was Expensive By 10.7 percent compared to the same period last year. 9 out of 12 categories analyzed became more expensive and only 3 became cheaper. For comparison, it can be noted that in October of this year. Purchases were more expensive, averaging 4.4 percent. On an annual basis, the price of 8 categories rose. However, in September this year. A jump of 8.8 percent was recorded. Then the seven categories rose.

The price hike in stores keeps pace with inflation. This year-end condition was predicted by our analysis center at the end of the summer holidays. At the time, many experts said that was somewhat unlikely. However, as evidenced by the latest data, we now unfortunately have a twofold increase in prices in food stores — says Carol Kaminsky, co-author of the study from the AdRetail Group Analysis Center.

In turn, Grzegorz Rykaczewski of Santander Bank emphasizes that compared to last year, prices for raw materials used in transport and energy have increased significantly. In addition, labor costs are rising. All this has a very strong impact on the economic situation, including the food industry. As a result, the higher costs pass to the next links in the chain, i.e., commerce, and finally to the consumer.

– There are groups that simply joined the general trend of inflation in light of the persistence of pro-inflationary conditions. High labor costs played an important role. This situation is worrying. However, the pre-holiday period is a bit confusing. Prices are rising, but there are also known brakes to this growth, namely, widely understood promotion, the influx of Christmas goods and a sharp increase in purchases – confirms Dr. Andrzej Maria Valinsky, former General Manager of the Polish Trade and Distribution Organization (POHiD).

The data collected also shows that prices for fatty products rose in November by as much as 60.6 percent. This is especially evident in the case of oil A jump of 79.4 percent ghee for 36 percent baking, and butter It became 34.1 percent more expensive. As Karol Kamiński points out, there has been talk of a more expensive oil several months ago, but its price has not yet settled. In addition to external factors, consumers themselves, who began to buy this product more often on the so-called inventory.

In November, vegetable oils were more than 50 percent more expensive in the world. on an annual basis. These increases were supported by higher oil prices compared to the previous year, which led to an increase in demand for vital components of the fuel. The wholesale price of butter in Poland has also increased by about half. The indirect reason is the situation in the market for alternative products, that is, margarine. In addition, there is a slowdown in production dynamics in the European Union and a higher demand in the HoReCa sector compared to last year – according to an analysis by Mariusz Dziwulski of PKO Bank Polski.

Other products took second place in the list with the highest increases – 32 percent. Here, above all, increases in the price of dog food (by 33.2%) and cat food (32%) are visible. On the other side diapers Infant prices rose by 5.8 percent.

The increase in dog and cat food prices was only a matter of time. They are made with ingredients that have become more expensive lately, such as meat and animal products as well as fats. Giulietta Brismont of Hiper-Com Poland says that producing these products, which are often highly processed, consumes a lot of electricity, which has also increased in price.

It ranks third in the ranking of the most expensive categories meat – 20 points. meat rose 27.7 percent, and veal by 23.6% Poultry by 19 percent while pork meat It became 2 percent cheaper.

Beef is becoming more expensive as a result of global conditions i.e. limited sales by major exporters and increasing demand in Asia. In the case of poultry, we note a strong cost pressure, which negatively affects production in Poland and other EU countries. Moreover, the demand in the HoReCa segment is higher than it was a year ago. However, the magnitude of the increases is due to the low reference base. Last year – as a result of the COVID-19 pandemic – poultry prices were very low. On the other hand, pork is cheaper due to lower demand in China. In the third quarter of this year. EU pork exports to China have fallen by nearly half – according to an expert analysis from PKO Bank Polski.

It is next among the most expensive categories Albanian – 16.2 percent behind him Vegetables – 11.2 percent However, in four cases, the increases were single-digit – drinks – 6.8% Household Chemicals – 5.7% bread – 1.7 percent and also fruit – 0.08%

Dairy prices have varied widely this year. Sometimes they would grow up and sometimes they would fall. However, recently, in comparison with data from September or October, it can be noted that in the first month, prices rose by 3% year on year, and in the second month – by 4.5%. So the jump is pretty big. In turn, vegetables in October this year. It was 3 percent more expensive. Compared to 2020 prices, however, in September it was more expensive year on year at 17.8 percent. – Reports to an expert from the AdRetail Group Analysis Center.

Although bulk products became 0.8% cheaper year on year, it was during this period Sugar By up to 58.9 percent. As Grzegorz Rykaczewski says, its price is the result of the situation on the world market. It was affected by a significant decrease in production in Brazil, which is the largest supplier of this product in the world. In addition, the increase in transportation costs has an impact on prices in the market.

Of course, prices will go up in stores. The systemic factors affecting this, i.e., financial and social approach to labor cost will not disappear. In addition, there is a rise in the costs of many raw materials, logistics and money. Dr. Valinsky concludes that inflation cannot stop at a signal, especially when pro-inflationary factors are maintained.

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