Food inflation 10%: which products are the champions in price increases

The rise in food prices in October of this year is shocking. The headline consumer price index (CPI, ΔΤΚ) in October 2023 compared to September 2023 showed an increase of 0.6% against a decrease of 1.2% that occurred in the corresponding comparison of the previous year, according to ΕΛΣΤΑΤ.

Increase in overall CPI by 0.6% in October 2023 compared to the corresponding index in September 2023 occurred mainly due to an increase of 1.7% in the “Food and non-alcoholic drinks” group, mainly due to an increase in prices for:

• bakery and confectionery products,
• meat (in general)
• dairy products and eggs,
• olive oil,
• fresh fruits,
• sugar-chocolate-candy-ice cream,
• coffee.

This increase was partially offset by lower prices, mainly for fresh, canned or processed vegetables.

Increase in overall CPI by 3.4% in October 2023 compared to the corresponding index in October 2022 occurred mainly due to an increase of 9.9% in the “Food and non-alcoholic drinks” group, mainly due to an increase in prices for:

• bread and cereals,
• meat (in general)
• fish (in general)
• dairy products and eggs,
• oils and fats,
• fruits (in general)
• vegetables (in general)
• sugar-chocolate-sweets-ice cream,
• coffee-cocoa-tea,
• mineral water,
• soft drinks,
• fruit juices.

IN on a monthly basis in the food category The champion in price growth is olive oil (an increase of 14.1%), followed by fruits – by 8%. IN annualized Olive oil is again the champion as price growth in the oils and fats category reaches 26%, followed by fruits with 20.5%.

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