Veyseloglu Retail Index represents the dynamics in the overall price level of the most purchased products by the company’s customers, the company told APA-Economics.
The overall cost of the most purchased products, which includes more than 3000 varieties, in January 2023 was higher by 16.1% compared to January 2022. The prices of fresh/perishable products increased by 15.9%, the prices of non-perishable (dry, bulk, frozen foods, confectionery and soft drinks) products increased by 20.7%, and the prices of alcoholic beverages and tobacco products increased by 5.2%. To provide more detailed information, the index data for this year also includes the category of hygiene and cleaning products. Thus, in comparison to January 2022, personal care and cleaning products increased by 19.4%.
Veyseloglu Retail Index has become popular amongst financial institutions and the expert community, as it provides a reliable alternative source of data in measuring consumers’ purchasing power. It also aims to assist ordinary consumers in budgeting for their monthly purchases. It is important to note that the index does not represent a precise level of inflation.
Veyseloglu Group of Companies (VGC) is a dynamic and multi-faceted FMCG group that encompasses various areas of the supply chain, from production, to distribution, to logistics, to direct interaction with customers through its supermarket chains. VGC genuinely believes in sustainable business models, striving to generate long-term value for all stakeholders and the local communities.