Economics in a picture
The monthly cost of a basic food basket has risen continuously over the last year
Between October 2021 and October 2022, the monthly average and median price of a basic food basket for an adult aged around 40 increased by 21 and 24 percent, respectively. This increase, based on prices charged daily by the main food retailers operating in Portugal on their online platforms, was observed in the different varieties of products on the market. The monthly cost of baskets made up of product varieties with the highest and lowest prices (corresponding to the 90th and 10th percentiles of the price distribution) grew by 17 and 26 percent, respectively. However, the cost of these baskets is very different. The value of the most expensive baskets is about two and a half times higher than the value of the baskets made up of cheaper varieties.
For more details see Box 5 “Developments in e-commerce prices of a basket of basic food products”, published in the Economic Bulletin of Banco de Portugal, October 2022.
Prepared by João Amador. The analyses, opinions and findings expressed above represent the views of the author and not necessarily those of Banco de Portugal or the Eurosystem.