INFLATION

Price hikes for most food items

Inflation continues unabated, especially for basic commodities Greek households require

Price hikes for most food items

Over three quarters of food items (46 out of 60) measured by the Hellenic Statistical Authority (ELSTAT) recorded price increases within a month, from September to October, a fact that shows that the de-escalation of inflation and especially food inflation is still slow. 

ELSTAT’s figures of a 3.4% inflation rise last month came on Friday to cast a heavy shadow on the efforts made by the Ministry of Development in recent days, unfortunately confirming the opinion that prevails in a large part of the market: that measures such as the Household Basket and the “permanent price cuts” are essentially piecemeal measures that can only partially relieve family budgets.

From Kathimerini’s processing of the analytical data published by ELSTAT, it appears that the price increases made in these 46 food categories range from 0.03% in cold meats to 14.05% in olive oil. Large price increases have been recorded in very basic food items, such as fresh milk (4.78%), eggs (4.11%) and cheese (2.31%), in sheep and goat meat (2.29%), in preparations based on fish and seafood (5.38%), fresh fruit (8.05%), margarine and other vegetable fats (2.47%) and coffee (1.9%). 

Overall, in fact, the group of food items registered a price increase on a monthly basis of 1.7%. It is worth noting that fresh milk is one of the products included in the “permanent price reduction” initiative, with the participation of two leading companies in the category. Of course, the measure is new compared to that of the Household Basket, which has now been running for a year and, according to representatives of the supermarket industry, has lost the appeal it once had with the consumer public in the first months of its application.

According to the clarifications to Kathimerini by a competent official of ELSTAT, the authority also records the offers and promotional actions that exist on the products at the time when the invoices are made, contrary to what has been supported from time to time by market officials but also relevant government officials. 

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