For the first time ever, Aussie households can access a comprehensive analysis of grocery prices in supermarkets and the results of the latest report are…pricey.
Watch Below: Folding hacks to keep your grocery bags tidy.
The Frugl GPI measures the price changes over time on a selection of everyday grocery items at Coles and Woolworths.
Managing Director and CEO of Frugl, Sean Smith explained that the index which tracks over 5,200 grocery stores and almost 60,000 products, “aims to take a more focused look at what is really happening to households at a grocery level.”
The key findings of their latest report have revealed a blunt look at the increasing prices of everyday items.
The report shows that the annual grocery price inflation has risen to a record level high and is not showing any promising signs of slowing down.
The largest quarterly price increases were seen in fruit and vegetables, which already made headlines earlier this year due to the shocking prices of iceberg lettuce.
But it isn’t just fresh produce that is increasing in price, with pantry items closely trailing behind with the second largest price increase.
Whilst the index revealed some pretty depressing figures, not everything is increasing in cost, with pet products, beef and pork all experiencing decreasing prices.
Although this is a promising sign, these items still have a long way to go until they return to ‘normal’ prices.
The report also revealed why prices are increasing at such fast rates, citing the impact major weather events such as repeated floods have had on supply and price recovery.
The high international prices of fuel, energy and packing materials are also showing no signs of easing, which has also contributed to the rising pressure on local pricing.
“Prices are still historically high compared to this time last year and suppliers are forewarning that they will be increasing their prices so retailers will have no choice but to pass these onto consumers later in the year” explained Sean Smith.
But with the costs of fresh fruits and vegetables on the rise, Aussies will be glad to know that one fruit is more affordable than ever.
Due to an oversupply, avocados are currently priced as low as $1.20, which means it is the perfect time to add a few to the weekly shop.
From a twist on the classic smashed avo to the perfect weeknight dinner and even a chocolate mousse recipe, New Idea have rounded up the best ways to incorporate more avocados into every meal. Find the recipes here.
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