The announcement of an increase in the categories of products that make up the household basket reaching 60, from the current 51, is expected on Wednesday.
As the Minister of Development, Adonis Georgiadis, has stated in this regard, “in this way, we will be able to meet the needs of consumers who asked us for it and we will also put these [categories] under protection”.
According to information, beef will be added to the basket – which was temporarily included during the Christmas holidays – as well as a number of other products such as chocolates, long-life milk, more codes for cold meats and yellow cheeses, legumes (lentils, beans, chickpeas) and soft drinks.
Three more baskets
Three more baskets are being prepared for specific periods of time (Lent, Easter and Toys) which will be made available to consumers gradually. As Mr. Georgiadis has clarified in the previous days, “from the beginning of Lent we will have the Lenten basket and as soon as we enter Holy Week we will have the Easter basket”.
The Lenten basket, which is also expected to be announced today, Wednesday, as Deputy Development Minister Nikos Papathanasis has already announced, will include 4-5 products. “It will contain vegan goods, roe, halva, things we buy during Lent. It was successful during the holidays. We are doing it now for Lent. It will keep prices stable,” he stressed.
This will be followed by the basket that will include candles and toys for the children modeled after the basket of Santa Claus, while on the Wednesday before Holy Week, according to information, the Easter basket is expected, which will contain items for the festive table.
According to the Minister of Development, “64% of consumers buy and search for products from the household basket. The household basket has gained a very large share of the daily market in supermarkets. Because whoever buys from the basket earns money. The basket has kept many industries from making new increases for fear of losing customers, and has led them to make many new offers. If you add the basket and the shopping card together, the monthly benefit for shopping is more than 100 euros.”
Average spending increased
However, despite the savings, as the political leadership of the Ministry of Development claims, by utilizing the household basket, at the same time the 18th annual survey of the Athens University of Economics, which records the change in the consumer behavior of Greeks in the supermarket, reveals that the average monthly spend is estimated at €324, up from €255 last year, with 82.3% of consumers spending up to €400 per month. The increase in expenditure comes mainly from price increases, which in this particular sector are much higher than the general consumer price index.
Furthermore, the price increases led consumers to more conservative purchases and to a shift towards Greek products. Despite conservative purchases, costs have risen due to accuracy, which is one of the biggest issues clouding consumer expectations for the future.
Latest News
ETC Report: Greece 3rd Most Popular Destination for Europeans
Italy and Spain are tied as the top destinations, each attracting 8% of travelers
Greece Battles EC to Protect Rice Industry and Public Health
Together with several other EU countries, Greece successfully blocked the European Commission's proposal to increase allowable levels of a banned pesticide commonly found in rice imported from southeast Asia
Eurostat: 3.2% Annual Inflation in Greece in April
The data shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation
Intrum’s 2024 Report Unveils Greek Businesses Embrace Digitalization for Growth
Looking ahead, over 40% of businesses prioritize development for 2024, with 65% recognizing the potential of digital business models as sustainable investments
IOBE: Mild Drop in April Business Confidence Index (BCI) in Greece
The positive balance of expectations for employment witnessed a marginal decline, while the index for production forecasts also recorded a mild drop
Greek PM Mitsotakis Calls on EU to Intervene Over Multinationals’ Pricing Policy
Speaking about price fairness, the Prime Minister emphasized, "Europe should also mean similar or uniform prices for the products sold by our multinational corporations.
Greenhouse Gas Emissions: 4% Decrease in EU, 0.3% Rise in Greece in Q4 2023
The EU's GDP remained stable with a marginal 0.2% increase in fourth quarter of 2023
HEREMA CEO: High Expectations from Natgas Exploration Off Crete
3D seismic surveys were conducted in the two offshore blocks west and southwest of Crete by a consortium comprised of ExxonMobil and HelleniQ Energy
EC Spring Forecast: Greek GDP at 2.2 in 2024, 2.3% in 2025
Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%
EBRD Raises Outlook for Greek GDP to 2.3% in 2024, 2.6% in 2025
Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries