For the moment, according to Greijer, there is only one “sign in place” regarding food prices. But that’s not all the products on the shelves. He says there are still products that are increasing in price. ‘So we have to look at the general factor.’
‘We have to look at the broad factor’
He also believes that the higher wage costs of supermarket staff may play a role in the price increase. ‘On the one hand, the cost of food has increased mainly because raw materials and energy have become more expensive, which is now showing signs of reversal,’ she explains. ‘But you can see wage costs are taking over. There is a decrease, but wage costs have increased by 7.5%.’
External factors
From an international perspective, there are also factors influencing Dutch supermarket prices. Dam collapse in Ukraine could cause major supply disruption, just like drought in Europe. While that doesn’t apply to all products, Greijer says. “For some products it determines the price, such as for cereals,” he continues. ‘But with fruits and vegetables, for example, you often see unfavorable weather in a certain period in a certain area. While in another area it’s favorable again. So it often weighs against each other.’
Flag out
According to Greijer, the flag in the food sector should therefore only be raised if prices fall in all product categories, although he calls the interim drop a boost. “And they won’t go up much more, that’s our expectation for the next six months.”