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Cost of food basket of basic goods increased by 15%

The cost of a basic basket of foodstuffs rose 15% between October 2021 and August this year, with some products increasing by 20%, while others recorded negative variations, estimates the Bank of Portugal (BoP)

In the October Economic Bulletin, the BoP points out that there is "very significant price dispersion", with the cost of baskets composed of varieties of products with the highest prices being around two and a half times higher than baskets composed of varieties with the lowest prices.

According to the regulator's analysis, "between October 2021 and August 2022 - the period when prices are available - the average growth in the cost of the basket was around 15 percent, with prices of some products varying by more than 20 percent and others having negative variations.

The BdP analysis is based on prices set on the 'online' platforms of the main food retailers operating in Portugal.

"Between October 2021 and August 2022 the evolution of prices per unit was very differentiated in the products considered in the basket," it points out.

Among the main average increases are cereals and meat, which in many cases exceed 20%.

Dairy products and vegetables have registered smaller increases in this period, but still above 10%.

"It should be noted that some of the products with the highest price increases are those for which demand is driven in periods of economic difficulty, as they are substitutes within their respective classes.

Already for the consumer basket of adults estimates 154.88 euros.


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