Ratings: Discomfort in the world for the price “rally” – What did the ELSTAT data show



The increase in basic necessities sold in supermarkets has caused great discomfort in the world. In fact, at a time when hundreds of thousands of people are on suspended work and have suffered significant losses in their income, prices for basic foodstuffs are rising. Products such as pasta, housekeeping, packaged food, prices are even higher up to 30 or 40 minutes compared to a few weeks ago. In fact, these increases are known to the Ministry of Development, but so far there is no intervention in the market to put a brake on the upward trend of prices. High turnover The price increases have also been recorded by ELSTAT, where it points out that in key sectors an upward trend of In fact, many consumers, remembering the high turnover of supermarkets in recent months during the previous lockdown, are waiting for the government to take steps to bring prices back to normal. given the squeezing of the income of large social strata. The Minister of Development, Adonis Georgiadis, during the completion of the second reading of the draft law on e-commerce in the Production and Trade Committee, and in the remark made by the special speaker of KINAL, Michalis Katrinis, announced that “from the second day “this lockdown, we have constant price increases of supermarkets in basic foodstuffs”, he replied that “I believe that the behavior of consumers can affect the prices down. We will do price checks. It is obvious that where there are excessive increases we will ask for a reason “. He pointed out that in Greece, of course, there is no pricing of products and added: “I make it clear that we are here and we are watching the phenomenon. And I want to send a message to the market. No one should think that the emergency measures taken for the sake of public health protection should be used to make predators. This will be the worst that can happen. “We will take all necessary measures to prevent this and we will punish very much those who do it, who will show that they do not have the slightest sense of responsibility, which we all have, towards the Greek people, in a very difficult time.” ELSTATThe increase in prices is recorded between September 2020 and October 2020, ELSTAT which points out that the increase of the General CPI by 0.3% in October 2020, compared to the corresponding Index of September 2020, came mainly from the changes in The following groups of goods and services: From the increases of the indices by: • 0.2% in the group Food and non-alcoholic beverages, due mainly to the increase of prices in: bread and cereals, lamb and goat, dairy and eggs, fresh vegetables. Part of this increase was offset by lower prices mainly in: poultry, fresh fish, fresh fruit, mineral water-soft drinks-fruit juices • 0.6% in the Clothing and footwear group, due to higher prices in clothing and footwear. • 1.0% in the Housing group, due mainly to the increase in prices for: natural gas, heating oil • 1.1% in the Transport group, due mainly to the increase in prices for air passenger tickets. Part of this increase was offset by the reduction of prices mainly for fuels and lubricants. In more detail, according to the data published by the market research company IRI, the sales of supermarkets (Mainland Greece and Crete, not including islands) based on the data for the fast categories amounted to 1.561 billion euros for the period 24/02 / 2020-10 / 5/2020 in relation to the period 25/02 / 2019-12 / 5/2019 when they amounted to 1.262 billion euros, recording an increase of 23.7%. Respectively, the week that ended on 10/5/2020 the sales of supermarkets, in relation to the corresponding last year (12/5/2019) amounted to 132.68 million euros, increased by 19.4%. From the beginning of 2020 until May 10, the growth of sales in value amounted to 15.3% compared to the corresponding period last year, ie from the beginning of 2019 to May 12, 2019. Turnover 5 billion in the eight months to 5.03 billion The supermarket turnover for the eight months of January – August 2020 is estimated at almost half a billion above the levels of the corresponding period last year (4.66 billion euros). This is according to the data of the market research company IRI. It is worth noting, however, that this large gap between last year and this year is due to the jump in sales in the spring, as, for example, in August the value of sales fell, albeit marginally, by 0.2%. Of the 5.03 billion euros, 3.83 billion come from sales of standard products, while 1.2 billion comes from sales of bulk products (the so-called weighted products). Upward in September In September, according to market estimates, The supermarket sector moved at levels just above last year, while the picture that exists so far for October is similar. Of course, as competent authorities point out, no one can make reliable predictions about what will happen in the near future and in case of a large increase in coronavirus cases and tightening of measures to limit its spread. Entrepreneurs in the market stress at the same time that the recession will affect overall consumption, but less the supermarket sector, as most consumers will continue to cook and eat at home. According to its latest forecasts IRI, this year will end with an increase in supermarket turnover by 7% compared to 2019, while, although it is still too early, for 2021 a significant decrease in sales is expected, close to 6%. There is a reduction in offers in almost all major product groups, which has led to an increase in unit prices. At the eight-month level, sales from bids fell by a total of 3.2 percentage points compared to last year. The biggest decrease is observed in the food category, by 3.9 percentage points. Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at



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