Sources from the Ministry of Development point out the significant de-escalation in food inflation and price reductions in household and personal care products, reflected in the announcement of inflation data by ELSTAT.

As they point out, food inflation decreased sequentially from 8.3% in January to 6.7% in February and to 5.3% in March. In addition, they emphasize that particularly significant price reductions are recorded at month level (February – March) in the following food categories: fresh vegetables (-6.3%), fresh fish (-5.4%), pork (-2.1%) ) and cheeses (-1.4%). At the same time, they note that price reductions are also recorded in non-food products, products that were the subject of the regulation of the Ministry of Development to reduce the benefits of suppliers to supermarkets. In items of immediate household consumption, a price drop of -2.1% is recorded and in items of personal care by -2.5% in March ’24 compared to March ’23.

The same sources underline that “the market is being rationalized after the drastic interventions of the Ministry of Development and in combination with the intensification of universal controls throughout the supply chain, structural distortions are being corrected in favor of healthy business competition for the benefit of consumers.”