Friday, April 11, 2008

Inflationary pressures @ Lucky's? The results

The previous post gives an overview of prices @ Luckys as of today, 12 April, 2008. The list follows as much as possible the list as published on 7 February 2008 containing prices recorded in the period February 1-5, 2008. The exceptions are few and are from my own maintained list which was not fully published as some products had little value in the overall comparison. The Lucky prices were those that were recorded on February 5, 2008.

In this overview there are 66 products which are compared. The cost of these products on the 5 February was 132,95 $US. Today's prices are exactly 4 $ US more expensive or 3,01%. On the basis that between then and now are 66 days, then this corresponds to 16,6 % increase on an annual basis.

More expensive were the aforementioned Orchid butter (+72%) and Wall's vanilla ice cream / Mama's noodles hot cup (both +25%). Others were peanut butter, rice, chocolate products, dairy products, soybean oil and sugar. Two products became cheaper, salsa sauce and margarine.

However, quite noticeable were that cheaper products / smaller helpings increased in price. If the price for each product on February 5 2008 is considered to be 1, then the increase corresponds to 5,3% or on an annual basis 29,4 %!

Back in February I commented on how the price rise on annual basis at Lucky's was higher than 25%; it was actually 27,01%. So since then inflation has continued to stay high and become even higher.

Compared to the start of price observation prices on a limited number of products at Lucky's (17), prices have increased by 17%, which is huge on annual basis. So don't postpone your new year shopping!

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