Greek supermarket prices face uncertainty as discounts expire

Supermarket prices in Greece face uncertainty as the majority of current price reductions, part of a voluntary national initiative, are set to expire at the end of October. While over 1,700 product codes currently participate with an average reduction of approximately 9.5%, only 265 of these are committed through December 31. This creates a predictability gap for the November-December period.

Market pressures are mounting due to rising international costs. Oil prices exceeding $105 per barrel are increasing energy and transport expenses across the supply chain. Additionally, raw materials like sugar have seen significant price hikes, with a 22% annual increase recorded in August. Multinational food companies have warned that their ability to absorb these rising costs is narrowing.

In the meat sector, concerns are rising regarding beef, lamb, and goat prices. Import restrictions on beef from Brazil are limiting market availability, while domestic small businesses are exiting the market, further impacting supply and pricing.