Despite the high prices of products in supermarkets, according to the Coop Group and the Salling Group, further price increases are on the way, and consumers should accept that prices will rise even more.
Salling Group and Coop are among the largest supermarket companies in Denmark, with stores such as Bilka, Føtex, Netto, Fakta, Kvickly, Coop, Superbrugsen, and others belonging to one of these two companies.
The price increases are attributed to rising energy costs for suppliers and retailers, according to Henrik Vinther Olesen, communications director at Salling Group, which owns and operates the Bilka, Føtex and Netto chains. He said: “We are seeing rising prices for raw materials, transportation and energy, and this is hitting the prices of goods, and hitting us in the stores where we ourselves use electricity and heat.”.
At Coop, which operates chains such as Kvickly, Superbrugsen, Fakta and Coop 365, Jens Juul Nielsen, the company's information manager, stated: "We can safely say that, unfortunately, we have not seen the latest price increases yet.".
Both companies declined to specify figures regarding the size of the price increases awaiting the goods.
The rise in energy prices is costing the group an additional 70-80 million Danish kroner per month.
Prices in a number of supermarkets have already risen. For example, the price of rapeseed and sunflower oil has increased by 41% in one year, and the price of pasta has increased by 24% compared to a year ago. The raw materials for both products largely come from Russia and Ukraine, where supply chains are now insecure due to the war.
The price of butter also rose by 15% in five weeks, and the price of cream cheese and mozzarella cheese rose by 9%.
On Monday, the Ministry of Finance predicted that inflation in Denmark would reach between 3.9 and 5.5% this year.
Source: TV2
