Greek consumers pay dearly for baby food

Created by DELL E 3

The cost of baby food in Greece has soared to staggering heights, with citizens paying between 32% and a whopping 213% more for the same product than their European Union neighbors.

An investigation by the Competition Commission last November revealed astonishing differences in prices. The prices of baby food intended for children under 6 months in Greece were found to be 144–171% higher than the lowest prices recorded in Belgium and the Netherlands. It is noteworthy that branded infant formulas in Greece showed a significant difference in prices – from 167% to 213% – compared to lowest prices recorded in Finland and Sweden.

Kostas Skrekas commented on the situation: “Prices for some brands of infant formula are approaching the average price in Europe, but they remain consistently more expensive. This is why we are initiating gross margin reviews, seeking to identify any structural imbalances in the market and supply chain.” Skrekas emphasized that “prices on the Greek market are 30-213% higher.” He further emphasized: “Infant formula poses a significant financial burden on households. We will study the measures needed to encourage prices to fall and move closer to the European average.”

Moreover, the results of the study indicate rising prices for cow’s milk in the first half of 2023. The price increased to €1.57 per liter, compared to €1.39 per liter in the corresponding period last year and €1.34 per liter in 2020 (a 20% weighted average price increase from February 2022 to January 2023).

Increased inspections are expected to uncover instances of unfair competition and profiteering trends in the coming days.

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