Inaugural Frugl Grocery Price Index Unveiled| First Comprehensive Grocery Price Analysis Reveals Ongoing Price Hikes

(Brisbane, QLD) —Leading Australian grocery comparison app, Frugl Grocery , has launched its Frugl Grocery Price Index (Frugl GPI), the first-ever comprehensive analysis of grocery prices in Australian supermarkets.

Frugl GPI is a series of statistics that measure price change over time on a selection of everyday grocery items at Coles and Woolworths. Released quarterly ahead of the Consumer Price Index (CPI), the Frugl GPI tracks grocery price changes at the overall, topline level while also revealing inflationary trends for a range of shopper personas and grocery categories.

Key Findings from the FY22 Q4 Report :

● Frugl GPI shows that annual grocery price inflation continues to rise to a record level of 6.75%

● Quarterly results show a continued increase in grocery price inflation at 1.05% on the previous quarter

● Despite a slowdown in price growth during the June quarter, a reversal to March’s unprecedented price increases has not yet materialised

● The total cost of a shopping basket varies minimally by state, except for in the Northern Territory which is slightly higher

● Based on the 14 categories analysed, the largest quarterly price increases were seen in Fruit & Vegetable (7.48%) and Pantry (6.08%)

● Quarterly price decreases were experienced in Pet (-1.74%), Beef (-1.58%) and Pork (-1.03%) however these decreases still do not return prices to the historic “normal”

● Beef’s decrease reverses a trend of quarterly increases however it still has the highest annual increased across all categories at 14.60%

● From the five personas, the greatest quarterly price increase was experienced by Single Professionals (5.59%), followed by New Parents (3.29%), with these two personas also experiencing the highest annual price increases as well

● Continued major weather events, in particular repeated flooding, have hampered supply and price recovery particular to fresh fruit and vegetables

● High international commodity prices on fuel, energy and packing materials have yet to show signs of easing, adding continued pressure to local pricing

Managing Director and CEO of Frugl, Sean Smith said that the Frugl GPI was created to provide a more accurate, timely and relevant measure of grocery price inflation so Australian households could make more informed decisions.

“ Recent announcements of surging inflation figures and subsequent increases in interest rates have led Australians to reassess how relevant the official Consumer Price Index (CPI) is to their own changing economic standing and households ,” says Mr Smith.

“ By its own admission, there are limitations to the ABS calculated CPI as an indicator of shifting costs of living as it does not analyse different spending patterns and underlying inflation measures like weather events.”

“ Grocery prices have actually held relatively steady compared to the previous quarter,however prices are still historically high compared to this time last year and suppliers areforewarning that they will be increasing their prices so retailers will have no choice but topass these onto consumers later in the year. ”

With over 5,200 grocery stores tracked on the app weekly and almost 60,000 productsavailable to compare, the Frugl Grocery Price Index data provides the country’s most in-depthanalysis on how different segments of society are being affected by pricing changes.

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