The price spiral has had a firm grip on us for more than a year – a ‘Krone’ check on the supermarket shelves of Upper Austria is quite surprising: two products are even cheaper today than a year ago. JKU scientist Christoph Teller provides a possible explanation.
Packing, packing shopping basket: Six products go into the virtual “Krone” shopping bag that no household is missing: 250 grams of butter, a liter of milk, a kilo each of sugar, wheat flour and bread and half a kilo of coffee. In October 2021, this purchase in the supermarkets of Upper Austria – five major chains were included in the price comparison – cost an average of 13.41 euros. A year later, after the outbreak of the inflation crisis, customers had to pay 18.43 euros for it. The six basic products became more than a third more expensive.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
