Supermarket price increases coming to an end

The months of rapidly increasing grocery prices at supermarkets seem to be over. In the past two years, a shopping cart filled with 55 basic products became 30 percent more expensive. But in the first months of 2023, the same cart became slightly cheaper, NU.nl reports based on figures from market researcher GfK.

“The price increases seem to be coming to an end,” Norman Buysse of GfK told the newspaper. “It may be that we have now reached the tipping point, and prices will fall. Prices are stable, and in some cases are decreasing very slightly.”

Energy prices - one of the main factors pushing grocery prices - have fallen sharply in recent months. “That component now makes it possible to lower the prices,” said Buysse. Raw materials have also become cheaper. But wages continue to rise in all kinds of sectors, and that may keep grocery prices high.

GfK also noted that Netherlands residents had adapted their shopping behavior as grocery prices increased. Consumers now buy less and waste less. “Less is thrown away. We heat up leftovers more often,” Buysse said. “We also go to the supermarket more often, which further reduces the risk of waste because then you can buy fresher products.” And people buy the house brand more often than the top brands.