NEWS5 July 2022

FMCG prices spiral upwards across Europe

Europe FMCG News Trends UK

UK – Fast-moving consumer goods (FMCG) prices across Europe have risen 6.9%, with the UK seeing price increases of more than 7.5%, according to figures from NielsenIQ.

person shopping in supermarket with a basket

The data, which is based on a 12-week period ending 24th April 2022 and contrasted with the same period the year before, showed eight out of 10 FMCG categories saw increases.

Perishable foods (+8.8%), ambient food (+8.7%) and pet food (+8.6%) were the top three categories with the biggest price rises in the European markets surveyed. 

Only health care had a fall in prices at 0.6%, while alcoholic beverages had the smallest increases at 1.9%.

Year-on-year inflation is now more than 10% higher in several markets from northern and eastern Europe, with Turkey (+69%), Sweden (+46.9%), Norway ( 34.9%), Russia (+18.4%) and Ukraine (+22%) seeing the highest rises.

NielsenIQ also said that 58% of European countries were reducing the proportion of items on promotion compared with 2021.

NielsenIQ’s UK Total Till survey showed volume sales were dropping in all FMCG categories in UK supermarkets in the four-week period to 18th June 2022.

Rising prices are leading shoppers to consider cheaper meal alternatives, NielsenIQ said, with sales increasing for dry pasta ( 31%), frozen poultry (+12%), rice and grains (+11%), canned beans and pasta (+10%), gravy/stock (+9%) and canned meat (+9%).