Eurozone: Greece Champion in Food Prices in December

According to Eurostat data the harmonized consumer price index for food in Greece recorded an increase of 8.9% in December, compared to 6% in the Eurozone. Of the 25 main food categories on the list, Greece has the unenviable lead in price hikes for 18 products.

The greatest percentage increase was recorded in the price of olive oil, despite Greece being the third-largest producer in the world. In December the price surge in Greece reached 58.5%, surpassing the Eurozone average of 48.5%. Furthermore, it secures the second position among the 20 countries, following Portugal, where prices increased by 64.8%.
Simultaneously, Greece came in first in fruit prices, with a notable increase of +16.9%, with Cyprus coming in second at +16.7%.

Regarding dairy products, feta cheese continues to experience a high percentage price hike, reaching +9.4% in December while a significant slowdown in the increase rates at 1.7%.was observed in the Eurozone.

Additionally, Greece is the most expensive when it comes to “preserved fruits and fruit-based products,” with an annual increase at 14.3% in December. This negative development extends to artificial sweeteners +10.4%, other food products, and soft drinks, with prices rising by 14.9%.

Finally, the country was second in the Eurozone for increases in meat-based products, with a +14.1% increase in December.

Source: tovima.com