Last year, the increase in food prices leveled off.
Last year, the price of grocery shopping remained at the same level. TIINA SOMERPURO
During 2024, food prices did not rise sharply, but price changes leveled off. Food prices were at their highest in the spring of 2023.
– Food prices have decreased by an average of 2.5 percent from March 2023 to December 2024, says the chief actuary of the Finnish Statistical Office Kristiina Nieminen.
However, he reminds us that prices are still at a high level.
– Although the spike in the annual change in 2023 is small, there has already been a big jump before, Nieminen states.
There is also an exception in the group. The price of one food item has only continued to rise. Olive oil has become more expensive in a year by 37.96 percent.
The price of chocolate, which has been talked about a lot recently, has increased by nine percent during the year, the price of cocoa by 6.37 percent.
The price of coffee will increase drastically during 2022, last year the increase was only around one percent.
– Coffee is a very typical throw-in product in stores. Its price fluctuates quite a bit during the year. For example, there were a lot of discount sales on coffee in December, Nieminen says.
The store’s coffee shelf has many other products than just coffee packets, for example coffee beans and capsules. However, they are not distinguished in Statistics Finland’s figures.
The price of fruit, berry and vegetable juices rose by 13.25 percent last year.
Sales manager of the S group supermarket Susanna Saari notes that food prices are determined by competition in the market.
– Nowadays, pricing is dynamic in such a way that price changes occur constantly, sometimes up and sometimes down. The retail price of products is affected by, among other things, the purchase price, logistical solutions, availability of raw materials and, for example, product loss.
Saari states that there was an increase in the selling prices of olive oils, especially in the first half of last year. In the background, the availability of the raw material and the increase in its price had an effect.
– There were challenges in the olive harvest in Europe due to weather conditions, especially in Spain, which produces a significant part of European olive oil.