HEALTHPLAN MAGAZINE

In the face of a 14.1% increase in food prices, a recent study by the OCU has unveiled Spain's most budget-friendly supermarkets, revealing that careful shopping can still result in annual savings of up to 1,056 euros.

The consumer organisation conducted an extensive study, visiting 1,108 establishments in 65 cities, including online supermarkets. They collected a comprehensive dataset of 155,489 prices for a "shopping basket" comprising 236 products. The study noted that these basket items had seen an average price increase of 14.1% since the last survey, which is a somewhat smaller hike than the previous year's 15.4%. Nevertheless, it marks the second-largest price jump in the 35 years of the OCU's research, with a cumulative rise of 30.8% over the past two years, significantly impacting consumers' purchasing habits.

The OCU report highlighted that the price increases affected 90% of the 236 products in the basket. Notably, there was a more uniform increase across various product categories compared to the previous year. Among the significant price surges, sugar saw a robust increase of 65.7%, followed by condensed milk (61.4%), carrots (56.1%), and frozen chips (49.7%). On the flip side, a few products witnessed price declines, including sunflower oil (-39.8%), Canary Islands bananas (-34.8%), disposable razors (-22%), and fresh cheese (-21.2%). Processed products experienced more pronounced increases compared to fresh products, although the latter registered a few more frequent price drops.

The price hikes affected all supermarket chains, but not equally. According to the study, E. Leclerc (16.8%), Supeco (15.8%), Carrefour Express (15.3%), and BM Urban (15.1%) witnessed the most significant price increases among the major chains. In contrast, Eroski City (8.8%), Eroski (8.1%), and the Masymas chain (8%) reported the smallest price hikes.

Despite these escalating prices, the study suggests that shoppers can still save 1,056 euros annually on their grocery bills. This amount has increased by 6.2% due to families' higher expenditures caused by rising prices. Notably, this increase has countered the greater consistency in prices across establishments. According to the OCU, cheaper products experienced larger percentage increases than expensive ones, narrowing the price gap.

However, the OCU emphasises that not all consumers can achieve the same level of savings, with significant variations between cities based on the breadth and diversity of offerings rather than just price levels. Madrid offers the highest potential savings, reaching up to 3,928.43 euros, followed by Gijón (1,871.1), Valencia (1,814.98), and Zaragoza (1,773.32). In contrast, Cuenca residents have the least potential for savings, with only a 430.2 euro difference between the most expensive and cheapest establishments in the city, followed by Puertollano (507.2) and Cartagena (507.82).

Regarding supermarket prices, the OCU identified the Alcampo hypermarkets in Vigo and Murcia as the most affordable. Following closely are five more Alcampo hypermarkets located in Vigo, Castellón, Teruel, Valencia, and Gijón. The first non-Alcampo establishment on the list is the Dani supermarket in Plaza Poeta Garcilaso in Granada. On the other end of the spectrum, the priciest stores were two branches of the Sánchez Romero chain, situated on Calle Arturo Soria and Calle Castelló in Madrid.

In terms of supermarket chains, Dani and Más Ahorro were found to be the most economical. At the national level, Family Cash and Alcampo emerged as the budget-friendly options. In contrast, Coaliment, El Economato, Amazon, and Sánchez Romero were among the priciest chains.

The OCU study also highlighted disparities in shopping basket costs between cities and autonomous communities. Teruel and Córdoba ranked as the most affordable cities with an index of 100, followed by Jerez de la Frontera, Ciudad Real, Burgos, Castellón, Puertollano, Vigo, Lugo, Zamora, Cádiz, Cuenca, and Palencia (101). The priciest cities included Palma de Mallorca, Getxo, Madrid, and Las Palmas de Gran Canaria. Regarding autonomous communities, La Rioja, Galicia, and Murcia emerged as the most economical, while the Canary Islands and the Balearic Islands registered the highest average grocery costs.

Source: Larazon