The prices of the majority of products that are most often marketed in the three large retail chains grew incomparably faster than the income of the population, states the weekly NIN in a just published survey.
Salaries and pensions have increased by 28-28 percent in two years, and the basket with one hundred best-selling products in one retail chain has increased in price by 48.2 percent, according to NIN.
NIN collected data on the prices of products most often bought by Serbian citizens from three large retail chains.
“The research showed that for the average salary and pension in May 2023, it was possible to buy almost a fifth less of the same products in stores than in May 2021,” says Milan Ćulibrk, editor-in-chief of NIN in a text published in the new issue of this weekly.
When the growth of average wages and average pensions is compared with the official price growth – of 10.4 percent between May 2021 and 2022 and another 14.8 percent for the next 12 months, one could conclude that wages and pensions are growing faster than prices, or at least not to fall behind them.
“However, the devil hides in the details, because the prices of the items that citizens buy the most have gone up significantly more than average,” states NIN.
Food prices, the magazine reminds, have increased in the last 24 months first by 16.2 and then by another 24.5 percent – a total of 44.7 percent.
“For the majority of citizens who use the lion’s share of their income to meet basic life needs – this is the true measure of inflation,” reminds NIN.
The standard Is falling, so the turnover in stores is also falling.
According to official statistics, NIN reminds, the turnover of goods in retail trade at constant prices in May this year was 6.2 percent lower than in May last year.
Could have had more goods for less pay
“This NIN research showed that for the average April salary in May 2021, which was then 17,821 dinars less than now, in one trade chain you could buy 928 kilograms of onions, and in 2023 it was not possible to buy even 460 kilograms of onions. “Two years ago, 1,082 kilograms of red potatoes could be sold in that store with an average salary, and this year only 552 kilograms,” says NIN.
Then the average salary could buy 185.6 kilograms of cheese, now 118 kilograms, two years ago you could buy 499 one and a half liter packs of fresh milk, now only 376 packs, then 118 kilograms of boneless pork leg, now the salary is not enough even for 82 kilos.
Just two years ago, you could buy 101 liters of yogurt more than you can now – 541 versus 436 liters.
“Out of the 100 best-selling items in May this year, in the past two years, the prices of even 73 products grew faster than the average salary and pension. In addition, the prices of another 17 items, mainly beer and soft drinks, grew slightly slower than wages, ranging from 20 to 27 percent, while only the prices of two types of fruit – apples (10 percent) and tangerines – increased significantly less than the income of citizens. (4.8 percent). On the other hand, as many as six products – four types of vegetables, fresh yeast and cheese – have increased in price in the last 24 months by more than 100 percent,” states NIN.
The price of food In Serbia, reminds NIN, is growing faster than most other products.
“And the fact that citizens have started to save on food is also evidenced by the fact that in May, at constant prices, sales of food, drinks and tobacco in retail stores were as much as 7.6 percent lower than 12 months earlier. And this can be considered a direct consequence of the excessive increase in the price of basic foodstuffs. What is also striking is that this is happening at a time when food prices in the world are falling,” NIN points out.
Read detailed lists of price increases by stores in the NIN weekly.
The biggest price increases
May 2021 – May 2023
Trade chain A:
Onion 157.1%
Red potatoes 150%
Carrot 122.2%
White potatoes 116.7%
Fresh yeast 103.8%
Trade chain B:
Black onion 350.1%
Young white potatoes 142.9%
Lemon 100%
Cucumber 80%
Crystal sugar 70.7%
Trade chain C:
Tomato 81.7%
White potatoes 79.7%
Pork leg 77%
Pork shoulder 76%
Crystal sugar 60%
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