De-escalation of prices for branded standardized ones foodsat a time when economic challenges strongly affect consumers demonstrate the data available to the Association of Greek Food Industries (SEBT).
In particular, as SEBT states in its information note, according to data from the Institute of Economic and Industrial Research (IOBE), in the month of November the prices of branded standard foods, excluding the impact of olive oil, fell by -1.4%, a downward trend in prices which has been systematically observed since May of the year.
It is noted that the same trend is confirmed by ELSTAT’s recent data for the month of November, with the General Consumer Price Index (CPI) at 2.4% and the food and non-alcoholic beverages group registering a decrease of -0.7% compared to October , as well as the IELKA Price Index with product prices in supermarkets in November recording an average drop of -0.72% compared to November 2023.
The figures from IOBE, combined with those of ELSTAT and IELKA, prove the commitment of the Food and Beverage Industry to contain prices and support the purchasing power of consumers.
According to SEBT, these encouraging results mark the entry into a period of gradual price normalization, thanks to the concerted effort and contribution of the entire food and beverage and retail sector, a trend that is expected to continue in the coming period especially for branded standardized food category, as long as there are no exogenous factors that will significantly affect the prices of raw materials and other basic costs.