Jan 17, 2024

Czech Egg Prices Soar Despite VAT Reduction

There has been a notable increase in egg prices across Czech supermarkets. This price surge comes as a surprise, particularly in light of the recent three-percentage-point reduction in the value-added tax (VAT) on food items.

Throughout December, supermarkets lured customers with discounted egg prices. However, these same eggs are now being sold at a higher cost per piece.

The earlier Christmas promotions and current seasonal factors, including concerns about bird flu, are likely contributing to this unexpected price hike.

According to the Czech Statistical Office, the average price of eggs in stores at the end of the previous year was 3.70 crowns each. Stores like Albert offered promotions, such as a pack of ten eggs for 29.90 CZK, a deal echoed by other chains.

Following the New Year, the pricing has seen an increase, with Albert pricing the package at 48.60 CZK, Lidl at 43.50 CZK, and Penny at 46.65 CZK. At Billa, a pack of thirty eggs equates to a single egg price of 4.66 CZK.

It’s not only consumers who are closely monitoring these prices; both the Government and the Czech National Bank had pledged a reduction in high inflation.

However, the repricing efforts in January, along with changes in tax rates and energy prices, could potentially impact these goals.

It is evident that food prices have not experienced a significant decrease, and the final impact will only be discerned once statisticians present their findings next month.

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