Prices in Greek supermarkets: falling or continuing to rise

What products continue to see price increases in supermarkets? Of the 23 categories tested in December, 9 showed an increase and 14 showed a decrease compared to the last month of 2023. Inflation turned out to be negative in December.

CNN Greece Edition writesWhat food costs have increased, impacted by the continued rise in world prices for coffee and cocoa, as well as the production of which is affected by climate change.

According to the December results of the monthly survey ΙΕΛΚΑ on the organized retail market, the nine categories that continue to move upward, from 0.24% to 4.5%, are food. However, 10 food categories show price declines: from 0.13% to 4.74%.

During the 12 months of 2024 12 of the 23 overall categories showed average growth, while 11 showed a decline. And in this case Food categories have moved up.

In first place in the list of price increases for the last month of 2024, according to the same data, were chocolate, cookies and confectionery (+4.5%). The reason was a jump in the international price of cocoa amid uncertainty due to low harvests in Cote d'Ivoire and Ghana, which account for about 2/3 of world production.

Price dynamics on a monthly basis showed an upward movement in all months of 2024, and the largest increase was observed in January 2024 (7.08%). The 12-month average growth recorded was 4.76% compared to 2023 data.

On supermarket shelves over the 12 months of 2024, prices in the breakfast food and drinks category, which is influenced by cocoa, recorded an average increase of 1.65%. With the exception of November (-2.67%) and December (-0.66%), this category moved upward in almost all months of the year.

Keeping up with cocoa and coffee, following a similar trend. However, coffee as a product is likely to be of great concern to us in 2025, Thassos Yagoglou, president of the Greek Coffee Association, said on CNN Greece.

The price increase for fresh fish and seafood in supermarkets was 4.44%, while at the 12-month level this category showed an increase of 5.94%. The highest growth for the year was recorded in October and amounted to 11.31%. The increase in fish and seafood consumption, according to ΙΕΛΚΑ, is due to prolonged heat, another consequence of climate change, and the fact that there was not enough fish to catch, while fish farms only had enough fish to meet demand.

The 2024 price dynamics for alcoholic beverages also showed an increase, by an average of 3.69%. The reason was the reduction in grape production during the 2023 harvest. In December 2024, the price increase for this category was about 3.42%.

Another food category expected to trouble us in 2025 is “water, soft drinks, juices.” International prices for juices (mainly orange juice), a key component of soft drinks, continue to be a cost concern for companies in the sector. They bear them due to production cuts in countries that are the main suppliers around the world.

In December 2024, prices in this category increased by 2.59% compared to the corresponding month in 2023, while over 12 months the increase was about 4.57%.

According to ΙΕΛΚΑ, The most significant price reductions in food categories during 2024 were recorded in the categories: “eggs, butter broths” (2.28%), cheese products (2.09%), baby food (1.92%). In December 2024, the price drop in these categories was 4.74%.

On a positive note, according to Eurostat, food inflation in our country in December 2024 for the first time after three years of intense inflationary pressure turned out to be negative and amounted to -0.2%. Development Minister Takis Theodorikakos said that “with a plan and hard work, we are continuing our efforts to de-escalate prices.”

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