In fact, in some product categories there is even a decrease. In detail, the prices of cheese products fell in February by 3.7% compared to January, of dairy products by 3.39%, of stationery and personal hygiene items by 1.2%, while a marginal decrease of 0.37% and 0.1% presented the disposable items of eggs and butter respectively. It is noted that in dairy the reductions recorded are the result of both the normalization of the market after the pandemic and the reduction in producer prices for some products.
However, IELKA attributes the moderate price increase to the gradual de-escalation of inflation, noting that “prices have stabilized in recent months in large food stores due to the large volumes of products they sell, economies of scale, their organizational/technological readiness and the range of private label products’. Another factor slowing down revaluations is the high circulation speed of stocks, i.e. the fact that supermarkets move their stock more quickly and immediately make new purchases to replenish stocks, while offers and discounts play a decisive role, as well as the penetration of private label products.
However, in some products the rally in appreciation continues. According to the IELKA survey, the biggest increases in February were food and items for pets and water and soft drinks with 11.2%, followed by fresh fruits and vegetables with 7.46%, biscuits and chocolates with 6 .78% and nuts and snacks with 6.67%.
As the Institute points out, in fresh fruits and vegetables, throughout 2023, increases in product prices are recorded as a result of increased production costs, extreme climate events and international prices of raw materials. As far as chocolates are concerned, they have been affected by the increases in the international prices of cocoa and sugar.
It is also noted that the “grocery food” category, which also includes oils, recorded an increase of 4.41%. “Its moderate increase is due to the reductions in the prices of other oils, but also of the other products that participate in this category (pasta, rice, etc.)”, underlines the IELKA.
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