A series of price increases is expected to affect family budgets as of September.
More specifically, new increases in basic products such as oil, dairy products, fruit and vegetables are coming from next month.
International developments, the effects that fires and hailstorms have on crops as well as the goat plague are some of the reasons for the price spike.
In particular, sectoral inflation continues to be burdened by the course of prices in olive oil, cocoa, coffee, fruit and vegetables, while the development with the plague and sheep pox may change the balance in cheese and dairy products.
Olive oil
Regarding olive oil, prices remain particularly high, ranging from 11 to 16 euros per liter, with the average rise in July at 56%, according to the Hellenic Statistical Authority.
As far as chocolate is concerned, consumption is becoming a luxury, as cocoa prices have soared by 111.21% since the start of 2024 due to tight supplies and adverse weather conditions in West Africa. This sharp rise pushed cocoa futures past $10,000/MT.
Coffee is expensive
For coffee, the producers have already announced price increases of up to 15%, however, a careful look at the supermarket prices reveals that the price of a kilo has exceeded 40 euros for instant coffee, 20 euros for Greek coffee, while prices for capsules is close to 90 euros per kilo.
Fruits and vegetables
In terms of fruits and vegetables, the retail price market is moving steadily upwards, as the availability of produce is significantly affected by the prevailing weather conditions.
Dairy products
In dairy, the course of prices will become clear from October, when discussions on contracts between producers and the industry traditionally begin.
Schools supplies up
Another major cost for Greek families in September are school supplies which seem to have increased compared to previous years.
Clothing
Given the sluggish movement during the summer sales period, the clothing and footwear sector is expected to attract customers with new winter products. In the two months leading up to Black Friday and Cyber Monday, prices are not expected to decline.
Insurance premiums
At the same time, the prices of health and vehicle insurance premiums are expected to remain high, after rising by 14% and 5.6% respectively in the first half of the year.
