The prices of the products are recorded as stable at Super Market in March 2024, presenting one increase on average barely 0.28% annual level, according to research by the Consumer Goods Retail Research Institute (IELKA).
Of the 23 product categories studied, 10 showed a decrease and 13 an increase.
The categories with price reductions:
- Stationery, diapers & napkins: -5.21%
- Fast food, lean: -4.37%
- Cold cuts: –3.78%
- Cheese: –2.98%
- Dairy: -2.96%
The categories with the biggest increases:
- Waters and soft drinks: +9.40%
- Nuts and snacks: +5.02%
- Ready meals: +4.62%
- Dry grocery food: +4.57%
- Biscuits, chocolates, sweets: +4.31%
Most of these species are affected by international prices of raw materials and especially the prices of sugar and cocoa. The “grocery food” category is mainly affected by olive oil. The moderate increase is due to the reductions in the prices of other oils, but also of the other products participating in this category (pasta, rice, etc.).
The five reasons for the trend of holding prices:
THE effect of state measures and above all the measure of exclusion for three months from promotional actions of the products that get an appreciation.
The gradual de-escalation of inflation. Prices have been stabilizing in recent months in large grocery stores due to the large volumes of products they carry, economies of scale, their organizational/technological readiness and their range of private label products.
Strict institutional framework. Supermarket chains operate in a strict institutional framework (e.g. Law on Unfair Profits N.4818/2021).
The high turnover rate of stocks. Price containment occurs much faster in large outlets due to higher inventory turnover. That is, they sell their stock faster and make new purchases to replenish stocks more quickly.
Offers and discounts. Offers and discounts in the organized retail channel are more in number, intensity and percentage discount, which affects the final prices of the products.
The effect of private label products. Sales shares of private label products are higher in large supermarket chains due to a wider code range.
Read more
War in the Middle East: Greece resilient to the new crisis
Timur Turlov (Freedom Finance Corp.): We are opening the door of Wall Street to Greek companies
The campaign of the CM and the new poll of the MM, the next day in PASOK, decision time in Elpedison, the loss of the “red packages” and the visit of Mondelez to Athens
For all the rest news of the news you can visit it First subject
Supermarket inflation
