Beating inflation: shop around and compare prices at differentretail outlets; the savings could be substantial - CHOICE # 378

Are inflationary prices on your grocery purchase a major concern to you? Are you serious about beating inflation?

In response to consumers' suggestions, the Consumer Council has undertaken a quick scan of prices, for comparison, at both supermarket and small individual retail outlets.

The price survey covered a basket of 11 samples (amongst those shown to record price increases of 10% or more in the 2007 annual supermarket price survey), directly purchased from 11 retail outlets comprising 5 supermarkets, 3 frozen/grocery stores and 3 drugstores.

The results are as revealing as they are useful to consumers intent on shopping around for cheaper grocery goods of value.

Significant price variations were found to exist in some of the 11 items covered in the survey - the discrepancy between the highest and lowest price of the same commodities at different retail outlets could range from 6.4% to a hefty 104.1%.

Topping the list of price differentials were: shrimp dumplings of 104g (from $7.3 to $14.9 or a differential of 104.1%); chicken sausages of 340.2g ($8 to $14.5 or 81.3%); and sweet corn of 418g ($5.5 to $9.9 or 80%).

Following closely were: light soy sauce of 500ml ($8.9 to $14.9 or 67.4%); and tooth paste of 250g in twin pack with gift ($23 to $29.9 or 30%).

In all of these cases, the supermarket chains were found to fetch the highest prices.

Nonetheless, while in the majority of cases supermarkets appear to be more expensive, they are not necessarily the most expensive at all times in all items.

The survey showed that supermarkets also scored the lowest selling price in 5 items while, on the other hand, the grocery stores were found to have their share of scoring the highest price in 1 item.

The survey clearly reinforces the need for consumers intent on guarding against the impact of inflation to shop around and compare prices (and promotions) by different types of retail outlets.

The accumulative savings could be considerable and essential to your household in time of price inflation.