Despite the fact that food inflation in Greece reached 12.6% in June, the rate is lower than the 13.8% recorded in the European Union. However, price increases in several basic products are higher compared to other EU member states.
According to the harmonized index of consumer prices in 25 main food categories, Greece shows higher price increases than the EU average in eleven products including meat, fruit, butter and eggs.
More specifically, the consumption of meat in Greece is developing into an expensive habit, given that the increase of meat prices reached 11.3% compared with 9.6% in the EU.
The price of beef in Greece rose by 6 euros per kilo in three years, with its price ranging in May 2020 to 9 euros and recently exceeding 15 euros per kilo.
Accordingly, the price of pork also rose by 14.8% in June compared with 11.1% in the EU. In the category of dairy products, milk and yogurt prices maintain a double-digit growth rate of 12.8% and 10.3% respectively, however these “performances” are lower than the corresponding ones in the EU.
On the contrary, cheese and butter prices rose significantly in Greece. More specifically, butter prices increased by 7.7% on an annual basis in Greece, while in the EU decreased by 2.5%. Cheese prices increased 18.1% compared with 17.6% in the EU.
Eggs prices jumped 16.6% in Greece compared with 16.5% in the EU.
