Average price increase for individual shops
The change from the basket survey that Veritabus conducted in early June is as follows:
The table shows that the weighted increase in food prices over the period is about 1.5%.
Veritabus also analysed changes to the basket at Tesco in the UK and Mercadona in Spain. The following changes were observed in prices since the beginning of June:
The price of goods in Iceland therefore appears to have risen by a little more. The reasons for the higher increases here are, among other things, sharp rises in meat prices. At Krónan, for example, chicken breasts rose by 8% and veal mince by 10%. It is worth noting, however, that both leg of lamb and a whole chicken have fallen by 6%.
Individual store indices
The internal index of shops has changed as follows:
The image below shows the internal ranking of shops in the box plot. The dots show the distribution of more expensive and cheaper products (outside the 50% percentile markers):
About Veritabus and the price survey
Veritabus is a sister company of the Arev securities firm. All Veritabus price surveys, as well as other public price surveys, can be found on the Veritabus website for subscribers.
96 product items in the Icelandic price survey that were available in all the stores were examined. In the basket survey, there were a total of 72 products and 58 individual sale items. The survey was conducted online last week. If products were not available online, the price was checked in the relevant shops.