Economics in a picture
The e-commerce prices of a basic basket of food products have been increasing markedly
Since October 2021, Banco de Portugal has regularly monitored the cost of a basic basket of food products, based on prices set on the online sales platforms of the main food retailers operating in Portugal. The calculation of the basket's acquisition cost considers a set of 25 products and the recommended monthly consumption quantities in the food basket of the Operational Support Program for Persons in Need. The cost of the basic food basket is calculated for different age groups and for average, median and 10th and 90th percentiles. The 10th and 90th percentiles translate the cost of the basic consumption basket in scenarios where individuals systematically purchase cheaper or more expensive products, both in terms of product range and retailers.
Considering the average prices for the week ending February 28, 2023, the value of the basket was higher for the group of teenagers (190.3 euros) and lower for children aged 2 years (108.9 euros). The adult’s consumption basket has an intermediate value of 174.3 euros. Considering the average prices, the variation in the value of basic consumption baskets for children aged 2 years, adolescents and adults between the weeks ending February 28, 2022 and February 28, 2023 was 21.9, 37.5 and 33 .9 euros, respectively.
For more details, see Box 3 “Recent developments in e-commerce prices of a basket of basic food products”, from the Economic Bulletin of Banco de Portugal of March 2023 and Box 5 “Developments in e-commerce prices of a basket of basic food products“, from the Economic Bulletin of Banco de Portugal of October 2022.
Prepared by João Amador and Ana Sequeira The analyses, opinions and results expressed in this space are the sole responsibility of the author and do not necessarily coincide with those of Banco de Portugal or the Eurosystem.
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