Supermarket shoppers are hard hit by growing inflationary prices of food and daily necessities. And with inflation showing no sign of abating, consumers are facing a grim prospect of diminishing purchase power to meet household needs.
This was clearly borne out in the Consumer Council 2012 annual price survey of a basket of 200 items at three major supermarket chains, namely, China Resources Vanguard, ParknShop Supermarket and Wellcome Supermarket, across the territory.
The price analysis, based on the scan data (actual sales) of the price information collected from the three chains, revealed surging prices in the majority (around 75%) of the items surveyed.
Overall, their aggregate average price rose 6.8% in 2012 over 2011. This was, nonetheless, much higher than the Composite Consumer Price Index which rose 4.1% on average in 2012 over 2011.
A closer examination of the analysis, however, revealed the actual extent of the price surge in some categories of products was well above the aggregate average of 6.8% to double-digit.
For analysis, the 200 items were broadly divided into 12 main categories and 42 sub-categories. The result: all but one of the main categories recorded an upward trend with aggregate average increases ranging from 1.1% to 14.2%.
The increases by main categories, in descending order, were led by milk powder/baby products (14.2%), canned food/prepacked soup (11.9%), dairy products/eggs (7.3%), prepacked bread/cakes (6.3%) and personal care products (5.7%).
The honour of the only one exception that bucked the rising trend and actually came down in prices, went to the category of alcoholic drinks - down by 5.0% on aggregate average.
Among 42 sub-categories of product items, the highest aggregate average price increase was found in canned fish (18.1%), followed closely by eggs (17.5%), and infant formula (17.3%). Also sharing the hot spot with double-digit aggregate average increase were: canned meat (12.4%), infant diapers (10.5%) and liquid soap (10.1%).
The survey also bore out the substantial price differentials that could exist from brand to brand. For instance, in the case of the eight infant formula surveyed, the average price increases varied from 5.6% to a staggering 40.4%.
It also revealed that the average prices of some surveyed items rose consecutively for the past two years (2011 and 2012).
Among these were canned fish (18.1%) and canned meat (12.4%). Two of the canned fish products were shown to record significant increases in two consecutive years: 34.4% and 21.8% in 2011, and a further 19.6% and 22.5% in 2012, respectively.
One canned meat product also recorded a double-digit average increase of 10% in 2011 and a further 24% in 2012.
Furthermore, eggs recorded an aggregate average price surge of 14.2% in 2011, and went up a further 17.5% in 2012.
The only two sub-categories of goods surveyed dropped in aggregate average prices were wine (-9.8%) and bottled water/energy & sports drinks (-0.7%). All of the six wine products included in the sub-category of wine recorded a price reduction on average of 3.4% to as much as 18.7%.
The products selected for the survey are mostly common household foods and daily necessities such as infant formula and infant diapers, canned food and eggs.
With no immediate relief in sight from inflation, consumers are hard pressed in their budget for household needs. Smart consumers are strongly advised to make every effort to shop around at different retail outlets for price - and brand - comparison.
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