From Iceland — Food Prices In Iceland Continue To Rise

Food Prices In Iceland Continue To Rise

Published February 14, 2013

A new report released by the Icelandic Confederation of Labour (ASÍ) today reveals that food prices in Icelandic stores continue to rise steadily, with an up to 10% increase in prices seen since the last price survey was conducted this past fall.
Frozen goods store Iceland has increased their prices the most (10.1%), with Krónan following shortly behind (9.1%). Nettó reports only decrease (2.8%).
The price of meat, and fruits and vegetables have been the most volatile over the five-month period since the last price survey was conducted. In some shops (Nettó) the price of meat decreased by 19.6%, while in others (Krónan) it increased by 17.9%. The cost of fruits and vegetables increased across the board, costing between 4.3% and 21.3% more now than in September 2012, depending on which shop you visit.

In conducting their price surveys ASÍ sends ‘secret shoppers’ to fill a basket of general grocery items – breads, cereals, pasta, meat, fish, vegetables, fruits, coffee, soda, juice, and cosmetic products. The stores included in the February price survey were Bónus, Krónan, Nettó, Iceland, Hagkaup, Nóatún, Samkaup-Úrval, 10-11, Samkaup Strax, and Víðir. ASÍ notes that the stores with the lowest increases in product prices are not, necessarily, offering the best prices and so consumers should still be diligent in comparing stores and making informed decisions about their purchases.
The findings of the report can be read on ASÍ’s website.
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