Food prices decreased, inflation increased
Thursday, January 30, 2025
Reduced prices almost everywhere except food: this was the picture of inflation for most of 2024, as recorded by ELSTAT. However, the data for December 2024 shows the reverse picture: although prices in the food category declined by 0.6% on a monthly basis, the general consumer price index increased marginally, mainly due to increases in clothing-footwear, rents, etc. Within one month, the price of olive oil appears reduced by 2.2%, fresh fruits by 4.8%, vegetables by 2.9%, (non-served) alcoholic beverages by 1.3%, while there was an impressive "dive" in the price of the "sauces-spices" category by 6.4% in just one month. In contrast, prices increased for beef (+0.7%) and fish (+1.7%), as well as prices in restaurants, pastry shops, cafes, and canteens (+0.6%). On an annual basis, notable price decreases from December 2023 to December 2024 are shown in food categories such as frozen seafood (-10.1%), pasta (-5%), pizzas and pies (-4.8%), poultry (-3.7%), fruits (-3.5%), and dairy products and eggs (-3.3%). Conversely, prices are up for cereals (+4.5%), beef (+4.4%), dried fruits-nuts (+5.3%), mineral water, soft drinks and fruit juices (+4.2%), and alcoholic beverages (+3.3%), as well as in restaurants, pastry shops, and canteens (+5.7%). Overall, the mega-category "Food and non-alcoholic beverages" shows an annual price decrease of 0.3%, compared to general inflation of +2.6%.
Spyros Pistikos
Source: FoodReporter January 14th 2025 #1325, page 6.