January Grocery Trends: Slowing Drop in Dairy Prices Signals an Upward Turn
Source: The DairyNews
In the realm of grocery stores, the start of the new year brings a mixed bag of pricing dynamics. While dairy product costs have dipped slightly compared to a year ago, a shift is noticeable when comparing December 2023, with prices starting to inch upwards. This trend is not exclusive to dairy; various vegetables, eggs, and meat products are also experiencing an uptick in prices.
Estonian grocery store prices witnessed rapid growth in the previous year, and though the Estonian Institute of Economic Research's survey reveals no sharp spikes, January figures indicate a gradual rise. The impact of this year's higher VAT rate is expected to further influence prices.
Remarkably, dairy products stand out as the only group of goods where prices have collectively fallen over the year. Notably, the most significant drop in price from the beginning of 2023 is observed in milk, particularly milk in cartons, which saw a decrease from 84 cents a year ago to 72 cents—a decline of over 14 percent.
Kefir and sour cream prices also experienced a nearly 9 percent reduction. However, comparing January prices with those of December reveals a shift in the trend, with prices on the rise. For instance, in just one month, the price of a liter of milk increased by two cents, and kefir rose by three cents.
Egg prices have seen increases both monthly and year-on-year. Local M-size eggs in a carton of ten rose from €2.26 last year to €2.70 in January, marking a notable over 20 percent increase—the highest gainer of the year. L-size eggs also witnessed an 11 percent jump last year, with a slight additional increase last month.
Imported egg prices have seen a nearly imperceptible rise, going from €2.32 a year ago to €2.33. Despite these fluctuations, the grocery landscape in January hints at a nuanced interplay of factors shaping consumer costs.
Remarkably, dairy products stand out as the only group of goods where prices have collectively fallen over the year. Notably, the most significant drop in price from the beginning of 2023 is observed in milk, particularly milk in cartons, which saw a decrease from 84 cents a year ago to 72 cents—a decline of over 14 percent.
Kefir and sour cream prices also experienced a nearly 9 percent reduction. However, comparing January prices with those of December reveals a shift in the trend, with prices on the rise. For instance, in just one month, the price of a liter of milk increased by two cents, and kefir rose by three cents.
Egg prices have seen increases both monthly and year-on-year. Local M-size eggs in a carton of ten rose from €2.26 last year to €2.70 in January, marking a notable over 20 percent increase—the highest gainer of the year. L-size eggs also witnessed an 11 percent jump last year, with a slight additional increase last month.
Imported egg prices have seen a nearly imperceptible rise, going from €2.32 a year ago to €2.33. Despite these fluctuations, the grocery landscape in January hints at a nuanced interplay of factors shaping consumer costs.
