There has been a significant reduction in the price of groceries over the last six months, according to a new survey by the National Consumer Agency (NCA).
The price of both branded and own brand grocery products have been driven down by increased competition between retailers, with Tesco recording the largest price decrease and Superquinn the smallest.
“Prices are coming down across the board which is good news for consumers,” NCA chief executive Ann Fitzgerald said.
“The survey is also throwing up some very interesting findings with Dunnes Stores and Tesco pricing almost neck and neck on branded goods...SuperValu stores along the border region, where it is running its Sterling Match programme, are not far behind.”
Between January and June, prices in separate baskets of branded goods for Tesco, Dunnes Stores, Supervalu and Superquinn all recorded a decrease. The difference between the cheapest and dearest basket of 68 branded goods between the retailers was €8.54 (4 per cent) up from 1.2 per cent in January, with Dunnes (€214.99) leading the way, but just marginally cheaper (€0.12) than Tesco.
Ms Fitzgerald said the 4 per cent difference between the cheapest and dearest basket in the multiples (Superquinn €223.53) is “the biggest we have seen to date and is an indication of the competitive pricing that these retailers are now offering to consumers willing to shop around.”
The survey shows, on a basket of 52 own brand items, there was a difference of €0.41 (0.6 per cent), with Aldi cheapest at €67.78. This was compared to a difference of €0.97 or 1.4 per cent on a basket of 49 goods in the January survey when Lidl was cheapest.
Ms Fitzgerald said the pricing between Aldi and Lidl is now so close that the title of cheapest can swing either way depending on the selection of goods in a basket.
A survey on consumer behaviour conducted for the NCA found that 75 per cent of consumers are consistently shopping around to find better prices and 34 per cent were buying fewer groceries than they were six months ago.
“Almost one in four of those who have changed their shopping habits are also spending less. This is down to the fact that they are shopping where it is cheaper and they are buying less,” Ms Fitzgerald said.
