Soaring food prices are forcing Portuguese consumers to make increasingly tricky choices, with staples like cod becoming financially out of reach for many households. The rising cost of living is prompting a shift towards cheaper alternatives as families grapple with economic pressures.
Data from Deco Proteste indicates the average grocery basket now costs over €250, a surge of €70 since 2022. This increase is significantly impacting purchasing power, with €50 no longer sufficient to purchase three kilograms of bacalhau (cod), according to the consumer advocacy group. The trend underscores the growing strain on household budgets.
“Only people of a higher social class [buy it], because the rest, the little guy, buys a steak because life is very difficult,” explained Maria Emília Romão, a local retailer. This sentiment reflects a broader pattern of consumers trading down to more affordable options.
The Deco Proteste basket analysis reveals a 129% increase in beef prices since January 2022. Other products have likewise seen substantial price hikes; fresh hake, which cost just over €6 in 2022, now sells for nearly €13. Chocos (cuttlefish) have jumped from €8 to between €13 and €14 in a matter of days. These price increases are forcing consumers to rethink their daily diets.
Consumers are adapting by switching to cheaper protein sources. “I’m going more for chicken and pork. Beef is much more expensive,” one shopper stated. Bruno Cortez, a butcher, noted that lamb and kid have experienced some of the largest price increases, along with black pork and beef. The escalating costs are putting significant pressure on families already struggling with housing, fuel, and other essential expenses.
“It’s housing, it’s food, it’s gasoline, it’s everything, and today we live a different life because we’ve moved forward, but pensions and salaries have remained the same,” Romão added, highlighting the disconnect between rising costs and stagnant incomes.
While the Deco basket registered a slight decrease this week, it has still increased by almost €10 since the beginning of the year, maintaining consumer concern. The price of the food basket has risen to over €244, the second highest level in the last three years.
The situation reflects broader economic challenges, including the impact of the war in Ukraine and ongoing inflationary pressures. Consumers are increasingly seeking promotions and discounts to mitigate the impact of rising prices.
