“The de-escalation of inflation in the Greek market as well as in the international market is a fact. We see this trend from February onwards,” Apostolos Petalas, General Manager of the Supermarket Association, noted in an interview with Naftemporiki TV.
He added that “inflation stood at 3.1% in August while food inflation was at 2.8%. A significant drop, which averages 1%, was recorded in the supermarkets for the fourth consecutive month, and it is expected to be at the same level in September. There are categories that have a 5%, 6% and 7% decrease, but there are some categories that are affected by the climate crisis, which continue to show an increase.”
Which food categories saw increases and decreases
“A significant decrease (throughout this quarter) was recorded in fresh fruits and vegetables, cheese, cold meats, dairy, eggs and fresh meats, on average. But there were also significant increases (except for olive oil). There was an increase in all products related to chocolate and this is due to the price of cocoa, which continues to have an upward trend and we do not know at the moment where it will go, while olive oil has reached a high level and stopped there. We also have an increase in juices and everything related to juice, especially oranges, because there is a terrible shortage,” Petalas noted.
In addition, he underlined that the climate crisis is a problem that affects the amount of production. Answering a question about how he estimates the price of olive oil, which is important for the Greek basket, he emphasized that “what will affect the price is the forecasts for the production of the new season.”
