Rising Grocery Prices: The Consumer’s Guide to Avoiding ‘Greedflation’ in Belgian Supermarkets

2023-09-04 17:03:40

The price statements of 3,000 products carried out by Testachats in seven Belgian supermarket chains and relayed by The evening lead to this conclusion for August: receipts are 14.7% higher than a year ago and nearly 29% more expensive than two years ago. “For a family of two, a month’s grocery shopping today costs an average of 533 euros. This is 69 euros more than a year ago, and two euros more than last month,” adds the consumer association pointing to three particularly remarkable increases: those of carrots (+70%), onions ( +55%) and ketchup (+49%).

These figures do not fail to worry and even exasperate Testachats. “Despite the many ‘purchasing power’ actions organized by supermarkets, we still haven’t noticed a reduction in the till receipt”, declares Julie Frère, spokesperson for the consumer organisation. “However, we are entitled to hope so, knowing that the fall in the prices of certain raw materials, such as dairy products, cereals and oils, has been at work for some time. These decreases should have been reflected in the price of the products in our basket. Yet these rates continue to rise. »

De la « greedflation » ?

As a result, Testachats suspects some food producers of engaging in greedflation, this portmanteau word combining “greed” and “inflation”. Julie Frère puts it this way: “Do food companies reserve the benefit of these price cuts? We can very seriously ask the question and in this case it is a real slap in the face for consumers who have been faced with very expensive shopping carts for more than a year and a half. » The appeal of the foot to the federal government – ​​and to the food production sector – could not be clearer… Just before the holidays, Pierre-Yves Dermagne (PS), Minister of the Economy, has already taken an initiative to this subject: it asked the Price Observatory to carry out a monthly monitoring of the evolution of the prices of food products. And he mentioned the idea of ​​a price freeze by the Competition Authority.

Le Soir and Testachats
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