Oil shoots up 75% in one year, from 2.34 euros per liter to 4.11 euros, which has caused demand to fall by 30%
Making the purchase is much more expensive than a year ago. Prices rose 8.3% in April, according to CPI data, and the shopping basket is the most affected: 73% of these consumer goods became more expensive by more than 5% in April compared to the same month of 2021, according to data from a NielsenIQ report.
What rises the most in price is oil, which costs 75% more than a year ago. Thus, a liter of oil had an average price in April 2021 of 2.34 euros, while now the average is 4.11 euros. This rise in its cost has reduced demand, with a 32% drop in the volume of oil sold in April.
Margarine is the second product that has become more expensive, specifically 35% compared to a year ago, and whose demand has fallen two points. It is followed by pasta, 31% more expensive, which is associated with a 10% decrease in purchase volume. A year ago the price of a kilo of pasta was 1.72 euros while now it reaches 2.24 euros, reveals Nielsen.
Industrial pastries become 25% more expensive, baby food and butter 20%, as well as household cellulose (toilet paper, kitchen paper), 17% more expensive.
"The tensions experienced in recent months are causing significant price increases, in many cases in basic food products that are difficult to give up or replace," explains Patricia Daimiel, general manager for southern Europe at NielsenIQ.
As a consequence of the loss of purchasing power of consumers, large supermarkets have suffered a drop in sales of 1.3% in the first four months of the year compared to the same period of 2021. The data from the consultant indicates that Although 1.3% less was purchased than last year, 4.6% more was spent due to price increases, totaling 97,000 million euros of spending.
40% of spending on fresh
The rise in food prices directly affects Spanish families, especially since their annual budget for fresh products stood at 1,900 euros in 2021, 300 euros below the year of the pandemic as a result of confinement but 8.6% more than in 2019.
Data from the Aldi Fresh Observatory reveals that fresh products (fruit, vegetables, bread, sausages, fresh meat, fresh fish and eggs) represented 41% of the total food expenditure of Spanish households in 2021, but their consumption fell 6.7%.