A study by the Organization has found Consumers and Users (OCU) of 10,000 prices in major supermarket chains shows that while most major companies announced that they would be absorbing the September IVA hike, prices of leading brands have gone up on average between 0.8% (Carrefour) and 2.6% (Mercadona).
The only price decreases were in the Corte Ingles organisation which includes Hipercor and Supercor.
In terms of the so-called ‘Economic Shopping Basket’, a mixture of brand and own make low-cost items, prices rose in eight out of the twelve chains studied, Carrefour up by 6.9% and Eroski up by 6%. Mercadona was on the low side with just a 0.1% increase.
The OCU also noticed a ‘troubling’ phenomenon. Many chains have been gaining customers for the own brand items at the expense of traditional brand names, this being due to at least comparable quality, general lower cost and the current economic situation.
However, it seems that once the customers have been ‘captured’, the own brand prices then start to rise.
Did anyone even think that prices would go up merely by the 3% IVA hike?