FMCG prices rise +6.9% in Europe, reaching +7.5% in the UK, NielsenIQ reveals – Retail Times
Data from NielsenIQ shows that across 32 European markets, more than eight out of 10 FMCG categories posted rising inflation rates over the 12-week period measured, compared to the same period in 2021. Food (+ 8.7%) and pet food (+8.6%) were the top three categories with the highest price increases in the European markets surveyed.
Year-on-year inflation is now more than 10% higher in several Northern and Eastern European markets, and the trend appears to be continuing. In the short term, prices continue to rise, with Turkey (+69%) and Ukraine (+22%) leading the way compared to the same period a year ago.
NielsenIQ data also reveals that while there was an increase in promotional activity on FMCG products in 2021 (28.2% of sales were made through promotions compared to 25% in 2020), this did not increase. is not maintained in 2022 due to inflation, with 58% of European countries reducing the percentage of items on sale during the 12 week period studied compared to last year.
Data released earlier this week by NielsenIQ in its latest UK Total Till survey showed that while inflation is now helping to drive category growth in most stores, volume sales have fallen across all supermarket FMCG categories. Britons over the past four weeks. period ending June 18, 2022. Rising prices are prompting shoppers to consider cheaper meal alternatives, with sales increasing for frozen poultry (+12%), rice and grains (+11%), beans and canned pasta (+10%), sauce/broth (+9%) and canned meat (+9%). While dry pasta sales increased by 31%.