Food price survey in June

Veritabus checked prices last week at Króna, Nettó, Hagkaup and Heimkaup.

I. Average increase in the price of individual stores

Based on the ASÍ survey conducted in September 2021, the average increase was 101 products
calculated in individual stores. The development of individual store indices is shown below:

As can be seen in the table, Heimkaup has risen most of these four stores and Heimkaup's average price is now higher than that of Hagkaup. The ISK is the cheapest of these stores.

As can be seen in the tables above, Heimkaup has raised its price considerably in recent months. Hagkaup has also increased its products in at least four of these stores.

II. Price comparison with other countries

Veritabus examined prices at Tesco in the UK and ICA in Sweden to compare prices here in Iceland and abroad. The baskets were made using products as an average family here at Stores Index Uncertainty ISK 5.7% 1.5% Net 7.3% 2.6% Bargains 5.5% 2.8% Home purchases 16.5% 3.6% Stores Average price Medium price 389 ISK 399 App 479 563 449 Home purchases 531 414 Stores Average price Medium price Medium price increase ISK 514 399 2.6% Net 555 429 7.5% Net app 544 420 7.5% Bargain 571 449 0.0% Home purchase 615 478 15.5% 2 countries would buy to last the week. for the selection were 35 in number.

According to the basket survey, the basket in the Crown (the store with the cheapest price in the survey in Iceland) was 53% more expensive than at Tesco in the UK, 12% more expensive than ICA in Sweden and 25% more expensive than at Franprix in France.)

III. About Veritabus and the price survey

Veritabus is a sister company of Arev Securities Company. All Veritabus price surveys as well as other public price surveys can be found on the Veritabus website for subscribers.

101 product items were examined in the Icelandic price survey that were available in all stores. The basket survey included a total of 53 products and 35 unique sales products. The survey took place last week in stores and online. In the shops, prices were read on shelf labels.

Prices were originally checked online, but if something was unclear or a product was not found online, store prices were checked separately.

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