Great Britain Leads Europe’s FMCG Inflation as NIQ Launches New Inflation Barometer

NIQ (NYSE: NIQ) today launches its new EU5 FMCG Inflation Barometer - a monthly tracker across five Western Europe markets – France, Great Britain, Germany, Italy and Spain – designed to help retailers, manufacturers and the media understand how inflation is evolving across Europe’s largest grocery markets and how shoppers are responding.

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The first edition of the Barometer reveals that while inflation across Europe’s FMCG sector remains relatively contained overall, significant differences persist between countries.

Key findings include:

• Great Britain recorded the highest FMCG inflation across the EU5 at +2.3%¹, above the European average of +1.1%.
• France and Italy reported the lowest inflation at -0.4% and +0.6% retrospectively, highlighting the uneven inflationary landscape across Europe's major economies.

The monthly Barometer also tracks department-level inflation, price elasticity, and how shoppers are reacting to inflation to manage higher grocery costs, including buying more on promotion, switching to cheaper products or reducing purchase volumes.

For example, in Great Britain for the period ending 24^th May 2026, Non-Alcoholic Beverages recorded the highest inflation (+4.4%), followed by Confectionery & Snacks (+2.8%) and Frozen Food (+2.7%). In contrast, Homecare and Paper Products are in deflation (-1.1% and -0.9% respectively).

Benjamin Cawthray, Client Director at NielsenIQ, said: “The first edition of the NIQ EU5 Inflation Barometer reveals a slowdown in FMCG inflation across Western Europe's largest markets. By May 2026, EU5 FMCG inflation had slowed to +1.1%, reaching its lowest level of the year as pricing pressures eased across most markets.

“While inflation is cooling at a regional level, the picture varies significantly by country. Great Britain remains the clear outlier, with FMCG inflation holding above 2%, while France has moved back into deflationary territory. Across continental Europe, a growing gap is emerging between FMCG inflation and broader consumer inflation, suggesting that supermarket pricing is no longer moving in line with wider economic trends. Shopper behaviour reflects these changing conditions. By analysing changes in promotional purchasing, retailer and brand choice, private label engagement, category participation and purchase volumes, the Barometer uncovers the key behaviours shaping FMCG growth across EU5 markets. This provides critical context to inflation trends, revealing how consumers are adapting their spending decisions in response to changing market conditions.”

He continued: “The findings highlight how inflation may be converging at a regional level, but shopper responses and category dynamics remain highly market specific, creating different opportunities and challenges for manufacturers and retailers across Europe.”

Notes to the Editor
¹ NIQ Retailer Pricing Services Data; 13-week period ending May 24, 2026 vs. same period year ago.

About the NIQ EU5 Inflation Barometer
The NIQ EU5 Inflation Barometer is based on harmonised FMCG retail measurement, consumer panel data and advanced analytics. It provides monthly analysis of inflation trends, shopper behaviour and price elasticity across France, Great Britain, Germany, Italy and Spain. For more information, please visit this page.

About NIQ
NielsenIQ (NYSE: NIQ) is a leading consumer intelligence company, delivering the most complete and trusted understanding of consumer buying behaviour and revealing new pathways to growth. By combining an unmatched global data footprint and granular consumer and retail measurement with decades of AI modeling expertise, NIQ builds decision systems that help companies turn complex data into confident action.

With operations in more than 90 countries, NIQ covers approximately 82% of the world’s population and more than $7.4 trillion in global consumer spend. Through cloud-based platforms, advanced analytics and AI-driven insights, NIQ delivers The Full View™—helping brands and retailers understand what consumers buy, why they buy it, and what to do next.

For more information, please visit www.niq.com.

© 2026 Nielsen Consumer LLC. All Rights Reserved.

Forward Looking Statement:
This press release about NIQ’s Inflation Barometer, may contain forward-looking statements regarding anticipated consumer behaviors, market trends, and industry developments. These statements reflect current expectations and projections based on available data, historical patterns, and various assumptions. Words such as " will", “expects,” “anticipates,” “projects,” “believes,” “forecasts,” “plan,” “look ahead,” “indicates”, and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future outcomes and are subject to inherent uncertainties, including changes in consumer preferences, economic conditions, technological advancements, and competitive dynamics. Actual results may differ materially from those expressed or implied in these statements. While we strive to base our insights on reliable data and sound methodologies, we undertake no obligation to update any forward-looking statements to reflect future events or circumstances, except to the extent required by applicable law.

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