Rising prices: 6 out of 10 consumers struggle to feed their family

Supermarket prices continue to rise as consumers cut back on their purchases in desperation to try to fit into their family budgets, but at the same time they are faced with the challenge of setting a “decent” Christmas table.

This year’s Christmas meal will be around 20% more expensive than last year as official figures show the increased number of meals is putting a “tightening on the pocketbook” of consumers. Living in Greece remains more expensive than the European average:

• Dairy products and eggs: 38.9%,
• Olive oil: 23.7%,
• Soft drinks: 20.4%,
• Bread/cereals: 5.5%.

“The consumer confidence index has fallen to -45%, making Greek consumers seem the most pessimistic of all EU“- says INKA representative Panagiotis Georgiadis in an interview with MEGA. According to surveys, “64% predict that the economic situation in the country will deteriorate or deteriorate. 59% predict they will spend less, and the share of consumers who say they are struggling to make ends meet is 57%. 6 out of 10 of our fellow citizens say they can barely make ends meet, according to official data. In addition, there is a “tendency towards deferring obligations” (timely payment of various bills).

According to ELSTATthe largest annual price increases are observed in product categories:

• Olive oil: 31.4%,
• Fruits: 12%,
• Meat: 8.1%,
• Vegetables: 10.8%,
• Sugar – chocolates: 7.6%.

However, in addition to the high cost of essential goods, an increase is also observed in seasonal (gift) goods. “People started shopping and business picked up,” said Vaso Vidali, owner of a seasonal goods store. “Our prices are reasonable and affordable (…) although some of the materials we use have become more expensive.”

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