According to the Consumer Product Research Institute (IELKA), the average price of food for a traditional Christmas table has increased this year compared to 2020.
The IELKA report presents the results of a study of the prices of products offered for sale in large supermarket chains in Greece in December 2021.
It is based on invoices from large supermarket stores conducted by IELKA researchers (13-15 / 12) and information received from market leaders in terms of pricing-forecasting the week before Christmas.
The study focuses on 22 typical food categories included in the Christmas table (kurabiye and melomakarona biscuits, traditional pie, turkey, lamb, chestnuts, eggs, potatoes, fruits, vegetables).
According to the study’s findings, the prices of the typical Christmas table food (if shopping in large supermarket chains) in 2021 increased by an average of 5% compared to 2020, while the cost increased by 1% from the highest price. registered in 2015. In particular, the standard “consumer Christmas basket” is valued at 86.18 euros in 2021, up from 81.81 euros in 2020.
It is noted that in recent years in large supermarket chains there are good offers, promotions and discounts that allow the consumer to choose and save on average about 13% of the cost of their purchases. At the same time, if you approach purchasing wisely, the savings can even reach 21% of the cost of the “basket”.
Out of 22 considered subcategories of products, the largest price increase was recorded for mutton – by 24%, the price of which remains even higher than on Easter. The biggest drop in prices is noted for tomatoes – by 25%, which is associated with favorable weather conditions. The average range of prices for goods remains elevated and is estimated at about 35-38% of their value.
In general, this Christmas, 1 out of 2 products will be offered to consumers “at a discount”, thanks to promotional events, additional “interesting” product offers (for example, a 2 + 1 gift), issuance of coupons, gift certificates, etc.
The rise in prices is explained by the fact that for several months in a row there has been a sharp increase in the cost of energy resources, and then everything along the chain becomes more expensive, especially imported goods. The International Food Index remains significantly higher than it was before the COVID-19 pandemic. All sub-indices show growth for cereals, oils, meat, dairy products and sugar.
In a survey conducted by IELKA in November-December 2021, most consumers associate price increases with world raw material prices (by 53%) and the COVID-19 pandemic (by 32%).