Prices at supermarkets increase 1.5 pc in half a year: Consumer Council

Four supermarkets have raised prices for an average 1.5 percent in six months, and the steepest hike was found in bread and cereals, the Consumer Council has found.

With Covid-19 raging across the world, logistics and supply chain has been thrown into disarray, consequently driving up product prices.

Citizens can feel the price increases at supermarkets more than ever, as they spend more time at home amid closures of entertainment premises and a dinner dine-in ban.

The Consumer Council sampled and analyzed the price of over 700 grocery items from 4 supermarket chains and food shops, namely ParknShop, Market Place by Jasons, AEON, and DCH Food Mart, from June to November last year.

The survey covered 3 major product categories namely “bakery/cereals/spreads”, “rice/oil/canned foods/fruits/vegetables/meat”, and “personal care”. It found a 1.5 percent increase in average price over the course of 6 months.

Among the three categories, the average price of “bakery/cereals/spreads” showed the steepest increase of 2.4 percent, out of which two supermarkets recorded around a 7 percent rise.

Ranked second was “personal care” with a 2.3 percent rise, and particularly for a supermarket, 34 out of its 50 items with the highest percentage price increase were from this category.

On the other hand, the “rice/oil/canned foods/fruits/vegetables/meat” category had a relatively lower average percentage price increase of 0.4 percent.

The Council reminds consumers that the price of the same item could drastically vary across different supermarkets. Based on the price in November 2021, half of the 10 products with the biggest price differences were canned products – predominantly canned whole kernel corn, cream corn and baked beans in tomato sauce.

A model of canned whole kernel corn showed the greatest disparity of over 90 percent, with prices in different supermarkets ranging from HK$6 to HK$11.4.

The watchdog said families can save a considerable amount by comparing prices between different supermarket chains.

Taking for example a family of two stocking up on groceries to prepare for social distancing at home, the aggregate price of a basket of 20 items all purchased at the same supermarket, including canned foods, oil, rice and cleaning supplies, would amount to around HK$914.1.

On the contrary, if they buy the lowest-priced items from different supermarkets after comparing prices, the total price would only be HK$819.4, equivalent to HK$94.7 in savings.