Toilet paper prices worldwide rose by an average of 3.37% between 25 March and 22 April 2020 amid the COVID-19 crisis, according to a recent report published by Finder, with nearly 57% countries globally reporting a price increase. At the top of the list was Norway, with prices jumping almost 68% from USD 2.71 to USD 4.54.
A geographical breakdown found that Asia saw the largest overall price increase at 7.56% compared to other continents, with toilet paper prices rising from an average of USD 1.91 to USD 2.06. Singapore (48.84%), Malaysia (32.26%), Philippines (17.76%) were among the Asian countries most affected, with all 3 countries ranking in the top 10 countries globally with the greatest price spikes.
Oceania experienced an average price increase of 6.15%, from USD 1.87 to USD 1.99, making it the second-most affected continent after Asia. Australia alone experienced a 9.09% hike in prices, placing it as the 10th most-affected country globally.
Conversely, the price of toilet paper in Hong Kong has remained stable over the entire four-week period at USD 1.50, despite earlier waves of panic buying in February.
Finder’s global editor-in-chief, Angus Kidman, comments, “When there’s a short supply of goods in high demand, there’s always a risk that it becomes a licence to price gouge. And when panic buying first hit Hong Kong in February, toilet paper was one of the trickiest products to come by. But, despite the shortages, our research suggests the price of toilet paper in Hong Kong has remained the same, which is a departure from most other countries.”