Of Chrysostom Chufi

I don’t know how many people felt it, how many people noticed it, how many found it on the shelves of supermarkets and retail stores, but since October 2024 Greece started building a series. A series where food inflation in our country was significantly lower than the Community average.

And not only that but for the quarter December 2024 – February 2025, food prices decreased. The series lasted until April, which is the last month in which food prices in our country had less increased compared to the average eurozone.

However, since May the image has begun to be reversed and cannot completely justify what many government officials support the broadcast panels. That is, inflation in essentials has receded and now consumers are experiencing the results of accumulated accuracy.

In May, food inflation in Greece was at 2.9% and 2.3% in the eurozone. 2.5% and 2.3% respectively were prices for June. And based on Eurostat’s preliminary data, there will be a significant divergence in July. The argument of tourist movement is partially acceptable. There is tourist traffic in many parts of Europe and also tourist traffic and significantly increased, it has been in the country last year (so the comparison basis is not low).

In particular, and starting with ELSTAT’s latest and announcements for July, without any rational explanation, the “nightmare” of olive oil returned as a 9.5%appreciation occurred compared to June. 2.6% was the monthly increase in poultry and 3% in other foods.

But on an annual basis the picture is not good:

  • Meat +6.2%
  • Fish +7%
  • Fruit +19.3%
  • Sugar +6.4%
  • Coffee +16.8%

The danger signal was sent by June. Based on Eurostat announcements, Greece had the largest appreciation in the eurozone in pork (7.6%), the 2nd largest in fish (7%) and 6th in yogurt (5.4%)

In addition, in a range of products inflation in Greece abstained from the Community events:

There are, of course, categories such as lamb, poultry, cheeses and eggs that the country’s image is better than the eurozone.

But apart from the problems of the domestic market, the international context does not seem to be good.

The UN food index noted in July increased in July to 130 points and is now 10 points higher than last year.

The meat index increased to 127.3 points and is now in a historical high

The seed oil index – used in the food industry – increased 11 points, at 166.8, in one month and is at a high 3 -year -old.

The dairy index dropped marginally to 155.3 points but remains 21 points higher than last year and a breath away from historical high.

Given that the government is in the process of forming citizens’ support arrangements, it may have to take into account the messages of the food market….