Rise in food prices: Greek consumers expect further price increases in early autumn

In all likelihood, according to experts and market participants, the increase in food prices in Greece will continue in the fall.

Consumers will again face new prices for some food categories. About this, as he writes CNN Greecetestify to the invoices of suppliers who arrive at supermarkets with prices for September.

However, no one expected otherwise. Because, on the one hand, food businesses are under pressure from rising energy costs and rising raw material prices, and, on the other hand, supermarkets are declaring their inability to absorb the increase.

Dairy products are a significant concern. This year, milk production in Greece has declined – some animals are malnourished due to the restriction of food that has risen in price, others have been slaughtered altogether, as it is becoming more and more expensive for farmers to keep them. The possibility of import is also limited – similar problems are observed in other countries. But even with the preservation of imports, purchase prices are quite high.

To date, the increase in prices for dairy products is on average 15%. If fears of industry leaders about the deficit in the coming period are confirmed, then you can be sure that a new price increase is not far off. And for dairy products, those that include milk will inevitably rise in price.

The situation in the meat market and animal feed is also not encouraging. The rise in prices has already amounted to almost 15%, and market participants are confident in their new increase. Even chicken meat, the cheapest, will inevitably rise in price by about 10-20% due to increased costs, industry leaders say.

According to CNN Greece sources, in the tariffs received by supermarkets with September prices in specific codes, a price increase was recorded. It will affect, in addition to the above categories, pasta, cereals and legumes. If we consider the increase in prices by enterprises in percentage terms, then it is now less than in previous months. However, the consumer does not need interest, but affordable prices for the most necessary – products.

Based on NielsenIQ data on supermarket measurements in the first half of 2022, the Food and Beverage categories saw the most inflationary pressure at 4.2%. On average, prices increased for olive oil (22.7%), flour (9.1%), packaged cheese (8.6%).

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