Supermarket prices have risen by 1.45% since collective agreements in the general labor market were signed last March. The increase is equivalent to 4% annually, and about half has occurred in the previous few weeks.
This is stated in the latest price level measurements by the price level monitoring agency of the Icelandic Federation of Labor, ASÍ. The increase between July and June measures 0.65%, which is equivalent to a 9.2% increase on an annual basis. Prices have risen very sharply since May, after falling somewhat in April.
By far the biggest increases are in Samkaup stores, that is Kjörbúðin, Nettó, and Krambúðin. These are the increases that have the most effect on the general increase in prices now, but other stores such as Bónus, Krónan, and Hagkaup have not raised prices to the same extent. Their rate of increase has been between 0-0.6% per month and the same was true for Nettó, until now. Increases in Krambúðun started earlier, in May, but prices there have fallen slightly between June and July.
Prices have only dropped in one store, Heimkaup, and quite sharply, first between May and June and then even more sharply between June and July. However, prices had risen in Heimkaup between April and May before.
Further coverage, in Icelandic, can be found at vinnan.is, the page of ASÍ magazine.