According to the data, in the 11th week of implementation of the household basket, out of 833 products 55 (7%) increased, 52 (6%) decreased and 726 (87%) remained stable.
The household basket is “counted” at the cash register of the supermarkets as, now, one in two consumers buys more than one product from the particular basket.
As noted by the Minister of Development and Investments Adonis Georgiadis, in a press conference, supermarkets are already complaining that the basket is costing them turnover, as due to its popularity some are forced to sell even below the cost of certain products, in order to remain competitive.
The minister said that the household basket will have a large part of the impact on the supermarkets’ annual results while the discussion with the industries and retail trade on the inclusion of more branded products in it has not yet been completed. He noted that industries are emphatically asking to include branded products in the basket as they have lost a large market share.
In the next few days there will be a new meeting with the representatives of the branded products and the supermarkets on this matter and he added that the proposal is being considered that it is mandatory to have at least one branded product in each category of the basket.
Regarding the duration of the measure, he reiterated that as long as the extraordinary reasons for which this initiative was started continue, its duration will also be extended.
According to the data, in the 11th week of implementation of the household basket, out of 833 products 55 (7%) increased, 52 (6%) decreased and 726 (87%) remained stable.
It is noted that the increases are only in fresh products.
“Despite the inflation, the prices in the basket remain stable” noted the minister, adding that for the time span of the initiative it is impressive that it keeps stable prices. That is, he keeps the reduced prices constant, as he explained.
RES-EMP
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