The second highest inflation at foods among its member countries Eurozone Greece had in March, according to detailed data on the harmonized index of consumer prices released last week by the Eurostat.
In particular, in March food inflation in Greece stood at 5.4%, behind Malta where the relative index was 6.2% and above Spain, where last month food inflation stood at 4.4% . It is worth noting that at the level of the Eurozone, food prices increased within a year to a much lower extent, by 1.7%. However, according to Consumer Goods Retail Research Institute (IELKA)which has compiled a price index of the major chains Super Marketprices overall – not only food – recorded an increase in March 2024 compared to March 2023 by just 0.28%.
Significant price increases in March in waters – soft drinks, nuts, ready meals.
However, according to the IELKA, there are products in which significant price increases were recorded which, as it seems, even the measures of the Ministry of Development to combat price gouging could not prevent. These are: 9.40% in soft drinks, 5.02% in nuts and snacks, 4.62% in ready meals, 4.57% in dry grocery foods, 4.31% in cookies, chocolates, sweets. A decisive role, however, for whether there will be a further de-escalation in food prices or whether we will have a new round of inflationary pressures will depend to a significant extent on the geopolitical developments in the Middle East which threaten to shoot energy costs to unimaginable heights. Moreover, both international and domestic economic organizations, although they estimate that inflation will continue to slow down, point out at the same time the volatile environment.
