In August, olive oil prices rose sharply, climbing by 62.3 percent from the previous year. Extra virgin olive oil followed with a 60.1 percent increase, while another measure of extra virgin olive oil showed a similar 61.8 percent year-over-year rise. By contrast, sunflower oil prices fell significantly, dropping by 39.9 percent according to NIQ data.
Despite the higher prices, overall consumption expanded modestly. The total volume rose by 5 percent, driven in large part by a substantial 40 percent jump in sunflower oil volume and a notable uptick in extra virgin olive oil. This contrasted with a 6 percent decline in the volume of standard olive oil products. The inflationary environment did not dampen demand outright; instead, shoppers adjusted by reallocating purchases across categories.
NiQ’s research also highlighted inflation in other staples. Sugar again proved a major contributor to August’s price pressures, rising by 33.4 percent over the previous year. Petrol was up 27.9 percent, while frozen vegetables and rice each increased by about 22.2 percent. These items helped push overall consumer prices higher during the month.
Other notable price increases appeared in baby foods at 19.6 percent, mass consumption parapharmaceuticals at 19.1 percent, traditional cheese at 15.7 percent, canned vegetables at 14.2 percent, and ice cream as well as breakfast cereals both rising around 14.2 percent. Taken together, Spaniards increased their shopping cart spending in August by 12 percent versus a year earlier, with an overall 2.7 percent gain in sales volume and a 9.1 percent rise in average prices.
The sector with the most spending is food
Breaking the data down into three main segments reveals that food continued to dominate August expenditures in Spain. The category not only accounted for the largest spending but also showed the strongest recovery in demand, with sales volume climbing by 4.1 percent. Follow-on sectors nonetheless displayed meaningful activity as well.
Pharmacies and perfumeries posted more modest gains in beverage sales, at 9.7 percent and 8.8 percent respectively, while beverage demand itself rose by just 1.3 percent. In parallel, sales volume in pharmacies and perfumeries grew by about 2.2 percent. When looking at price changes alone, food rose by 9.3 percent, beverages by 7.4 percent, and pharmacies and perfumeries by 7.3 percent compared with August last year.
Demand figures are improving thanks to tourism
Overall demand shows a healthier trajectory compared with the previous year, with tourism playing a key role. This is reflected in the sales volume of summer-oriented products such as facial care, which jumped by 21 percent. Sunscreen products followed with a 13.7 percent increase, dietary items rose 13.1 percent, and pesticides saw a 7.6 percent uptick.
Discretionary items tied to summer meals and snacking also posted gains, including grated cheese at 15.2 percent, pasteurized feta at 11.8 percent, and soft cheese at 10.4 percent. On the downside, mass market parapharmacy experienced a notable drop in August, with demand down around 20 percent in the period.
Retailer brands gain strength with 17.8% more sales
Brand performance mirrored prior periods: retailer brands increased their sales value by 17.8 percent, while distributor volumes rose by 6.3 percent. Manufacturer brands also posted solid gains, with value up 8.1 percent, though volume showed smaller growth and in some cases contracted. The data suggests retailers are leveraging private labels as a steadying force in a higher-cost environment.
Patricia Daimiel, NIQ’s managing director for Southern Europe, stressed that consumers not only in Spain but worldwide face another year-end shaped by elevated living costs. Her comments underscore a global pattern where price pressure shapes shopping choices, even as demand shows pockets of resilience amid the inflationary backdrop.