Family basket: how much supermarkets have reduced prices

A government relief measure targeting low-income households is in its 26th week of implementation. So how much have supermarkets actually reduced prices over this period of time?

For 97.18% of the products included in the Family Basket, prices decrease or remain stable in the 26th week of its implementation (04/26/2023 -2/52023), while its average value decreases by 1% compared to the previous week .

“We continue to fight inflation by supporting our vulnerable fellow citizens in every possible way,” said Minister of Development and Investment, Mr. Adonis Georgiadis, in a Twitter post.

25η εβδομάδα εφαρμογής από το “Καλάθι του Νοικοκυριού” και τα αποτελέσματα είναι τα εξ ής: Από 1134 προϊόντα 32 (2.82%) παρουσίασαν αύξηση, 48 (4.23%) παρουσίασαν μείωση, και 1054 (92.95%) παρ έμειναν σταθερά! -1% μείωση πάλι στο σύνολο της αξίας του “Καλαθιού”. Συνεχίζουμε την… pic.twitter.com/NohL26XOn4

— Άδωνις Γεωργιάδης (@AdonisGeorgiadi) April 26, 2023

In particular, out of a total of 1,134 items in the “Family Basket”, prices have decreased for 48 units of food categories. At the same time, the price of 1054 remained stable, while the price of 32 increased.

According to ELSTAT, eggs and dairy products in March they went up by 23.1%, i.е. almost 5 times higher than the average inflation rate. In February, the growth recorded by ELSTAT for the same products was 25.2%, in January 25% and in December 25.6%.

Prices bread and cereals rose 15.6% in March compared to 16.8% in February, 18.6% in January and 18.7% in December 2022. Prices edible fats and oils rose 17.5% in March, compared to 22.9% in February, 23.1% in January and 21.7% in December 2022.

At the same time, prices for meat rose 19.8% in March, compared to 20% in February, 19.3% in January and 17.8% in December.

Given that there is a phase difference in food prices (recall that their growth was slow compared to the growth in energy prices), consumers are almost certainly it will take a few more months to see the first significant price cut.

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