July 2022
Featured in this insight: Consumer goods & FMCG , Food & drink
FMCG prices have risen in excess of 7.5% according to latest figures: Data has revealed the extent of price rises of FMCG goods in the UK and throughout Europe with prices in the UK up by more than 7.5%. This is in contrast with Europe, where a rise of 6.9% has been recorded.
NielsenIQ’s UK Total Till survey is based on the twelve-week period before 24th April 2022 and is then compared with the same period in 2002. The latest survey revealed that eight out of 10 FMCG categories have experienced price hikes.
Looking at which categories have been affected the most, the survey revealed perishable foods, ambient food and pet food have seen the greatest price rises in European markets.
- Perishable goods (+8.8%)
- Ambient food (+8.7%)
- pet food (+8.6%)
- Drinks - non alcoholic (+7.3%)
- Home care (+5.7%)
- Confectionary/snacks (+5.6%)
- Frozen food (+5.4%)
- Health & Beauty (+5.3%)
- Alcoholic dinks (+1.9%)
- Healthcare (-0.6%)
The smallest price rise was seen in alcoholic drinks (1.9%), while the only sector that didn't have a rise was healthcare, which actually saw a fall in prices of 0.6%.
The survey also found that almost six in ten countries in Europe have reduced the number of items they offer on promotion, compared with the same period last year.
The research also found that year-on-year inflation is more that 10% higher in some markets, with the highest rises seen in Turkey (+69%), Sweden (+46.9%) and Norway (+34.9%), followed by Russia (+18.4%) and Ukraine (+22%).
The smallest rises were seen in France (+1.9%), Switzerland (+2.4%), Italy (+2.8%) and Belgium (+3.5%).
One of the consequences of rising prices for consumers is that many are seeking out alternative lower-cost meal options. Increases have been seen in sales of dry pasta (+31%), frozen poultry (+12%), rice and grains (+11%), canned beams and pasta (+10%), gravy/stock (+9%) and canned meat (+9%).
View more of our sector specific insights: Consumer goods & FMCG, Food & drink
