A new round of price increases in May: which products will reduce VAT

Georgios Pilidis, president of the Association of Small and Medium Supermarkets, noted that VAT cuts are expected on basic food products.

A new round of price increases was announced by Mr. Pilidis, and this applies not only to those products, the supply of which “suffered” due to the situation in Ukraine, but also to others, reports dikaiologitika.gr.

According to him, next month, consumers will have to face an increase in the cost of products in stores. And this applies even to detergents (household chemicals), stationery and cosmetics.

However, the president of the association also mentioned the foodstuffs that VAT will be reducednoting that these would be the essentials:

• milk products,
• cheese,
• cereals (cereals, ready-made breakfasts for children),
• oil (olive and sunflower),
• sugar.

It is noted that the reduction will affect products, the VAT of which is currently 13%.

Recall, as Russkiye Novosti wrote earlier, according to ELSTAT inflation jumped to 8.9% in March. The overall consumer price index, compared with February 2022, showed an increase of 2.7%.

Prices soaring for electricity (79%), natural gas (68%) and fuel oil (58.5%) are shocking. An increase of 19.9% ​​was recorded for products such as vegetable oil, and 13% for vegetables. Airfare increased by 26.8% and ferry tickets by 16%. The cost of living in hotels and motels increased by 18.5%, writes dikaiologitika.gr.

Increase general consumer price index (Δείκτης Τιμών Καταναλωτή (ΔΤΚ) by 8.9% in March 2022, compared with the corresponding index in March 2021, was mainly due to changes in the cost of the following groups of goods and services:

• 8.1% in the Food & Non-Alcoholic Beverages group, mainly due to rising prices for bread and cereals, meat (in general), fish (in general), dairy products and eggs, oils and fats, fresh fruits, vegetables (in general), sugar-chocolate-candy-ice-cream, other products, coffee, mineral water-soft drinks-fruit juices.

• 0.4% in the “Alcoholic drinks and tobacco products” group, mainly due to the increase in prices for wines.

• 6.5% in the clothing and footwear group due to rising prices for manufactured goods.

• 29.9% in the Housing group, mainly due to rising prices for rent for housing, goods for home repair and maintenance, electricity, natural gas, fuel oil.

• 3.7% in Durable Goods (household goods and services) group, mainly due to the increase in prices for furniture and interior items (decor), textiles, glassware and household utensils, household items, household services .

• 15.4% in the Transport group due to rising prices for new cars, used cars, mopeds, motorcycles, tires, fuels and lubricants, tickets for air passenger transport, tickets for passenger ferry transport.

• 0.1% in the “Leisure-cultural events” group due to the increase in prices for small leisure items (pet food), tickets to cinemas-theaters. Some of this growth was offset by lower prices for audiovisual equipment, computers, repairs, leisure durables.

• 0.9% in the “Education” group, mainly due to an increase in the cost of education in the system secondary education.

• 2.8% in the “Hotels-cafes-restaurants” group due to higher prices in restaurants-confectionery-cafes, hotels-motels-hotels.

• 0.1% in the group “Other goods and services” due to the increase in prices for other types of personal hygiene. Part of this increase was offset by lower vehicle insurance prices.

The index fell:

• By 2.9% in the Communications group, mainly due to lower prices for mobile phone equipment and telephone services.

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