FMCG prices have increased by 6.9% year-on-year across Europe and 7.5% year-on-year in the UK in the 12 weeks ended 24 April 2022, according to latest data from NielsenIQ.
Across 32 European markets, more than eight FMCG categories out of ten showed increasing inflation rates during the 12 week period versus the same period in 2021.
The top three categories with the biggest price rises in the European markets include perishable food (+8.8%), ambient (shelf-stable) food (+8.7%) and pet food (+8.6%), the survey found.
Year-on-year inflation has exceeded 10% in several markets in Northern and Eastern Europe, and the trend appears to be lasting, the study noted.
Prices continue to rise, with Turkey (+69%) and Ukraine (+22%) leading the way compared with the same period in 2021.
Data also unveiled that inflation affected promotional activity on FMCG products, with 58% of European countries reducing the percentage of items on promotion in the 12 week period.
In 2021, promotions accounted for 28.2% sales in the category, up from 25% in 2020.
UK Total Till Survey
UK Total Till survey conducted by NielsenIQ unveiled that while inflation is now helping to lift category growths across most of the store, volume sales declined in all FMCG categories at UK supermarkets in the latest four week ended 18 June 2022.
Shoppers are considering cheaper meal alternatives, with sales increasing for frozen poultry (+12%), rice and grains (+11%), canned beans and pasta (+10%), gravy/stock (+9%) and canned meat (+9%).
Sales of dry pasta increased 31% in this period, data showed.