Greece food prices expected to rise by up to 15%

Food prices in Greece are expected to rise, with some products seeing increases of up to 15%. Since mid-September, at least nine major supplier companies have submitted new price lists to supermarket chains, affecting more than 390 product codes.

The price hikes span various essential categories, including dairy products (notably feta and goat cheeses), beef, bread and bakery items, cooking products, chocolate, plant-based milks, and cleaning supplies. Specifically, bakery products may see increases up to 10%, while cooking ingredients like soups and cubes are rising by approximately 3% to 4%.

These increases are attributed to rising operational costs for industries, suppliers, and importers. Key drivers include higher costs for raw materials, packaging, energy, and transportation, compounded by geopolitical tensions in the Middle East which have added uncertainty to energy and logistics sectors. This new wave of inflation threatens to undermine the National Price Reduction Initiative.