Inflation: March will see price reductions in supermarket items – 2024-02-18 04:23:41

The Ministry of Development aspires to have visible results on the inflation front. In fact, they believe that from the first days of March, the price reductions in supermarket items will be visible to consumers, due to the implementation of the ministry’s measures.

A few days before the implementation of the anti-accuracy measures, which start on March 1st, the Ministry of Development proceeded with a new intervention to “block” price increases. It is recalled that according to ELSTAT, the “rally” in food prices continued in January, although a slight deceleration in the rate of inflation was recorded. And this at a time when one of the factors that fueled the cycle of appreciations, i.e. energy, presents a better picture.

With the aim of mutual benefit for businesses and consumers, the Ministry of Development decided to exempt from the ban on promotional actions – for three months – products for which there has been a previous price increase of those that are close to their expiration date.

The regulation concerns 44 types of products for which a special label is now required that will read “Product with a close expiration date” and the time distance from the expiration date varies for each type from one to 30 days.

The aim of this intervention, among others, as the Ministry of Development has pointed out, is to deal with phenomena of food waste or the destruction of stocks that could be made available at particularly low prices to interested consumers.

Pricing and promotions

The list of products that are subject to review for price increases and for which – according to the current legislation – companies cannot carry out promotional actions for the next three months is also expanded and expanded, and the list of fresh products for which “net prices” are applied with the addition of the “fresh goat” and “fresh lamb” categories.

However, the market estimates that the measures of the Ministry of Development will win the inflation bet as they concern a wide range of items.

It is recalled that inflation may have reached 3.1% from 3.5% last December and compared to 7% in January 2023, however in the “Food and non-alcoholic beverages” group it “runs” at 8.3% due mainly to an increase in prices in many basic species.

Specifically, in a monthly comparison, there were price increases in: Cold cuts (5.7%), Fresh fish (1.2%), Yogurt (2.8%), Olive oil (6.8%), Fresh vegetables (2.8%) , Preserved or Processed Vegetables (2%), Alcoholic Beverages – Still Served (3.9%), Electricity (0.7%), Pharmaceutical Products (0.8%), Air Passenger Transport (3.4%), Mobile telephony services (1.6%), Restaurants-patisseries-cafes-canteens (1.5%) and Health insurance premiums (14%).

Conversely, prices decreased in: Pasta (3.3%), Poultry (1.8%), Fresh whole milk (4.4%), Fresh low-fat milk (4.8%), Cheese (1.9 %), Fresh fruit (1.9%), Municipal fees (1.5%), Natural gas (13.5%), Heating oil (1.1%), Textile household products (3.8%), Car fuel – petrol (0.5%) and Hotels – motels – inns (7.4%).

However, falling prices and reducing inflation remains a difficult equation for the government and for household incomes as another key factor that can affect the course of prices is the situation in the Red Sea.

The lists of the Ministry of Development

It is recalled that the products exempted from the ban on promotional actions – for 3 months – if there has been a previous price increase, as long as they are close to their expiry date are the following:

1. Pastries 1 day
2. Fresh pork 1 day
3. Fresh chicken and chicken parts 1 day
4. Fresh beef 1 day
5. Fresh whole and low-fat milk 1 day
6. Chocolate milk 1 day
7. Plant-based drinks 1 day
8. Yogurt and yogurt desserts 3 days
9. Creams and rice milk 3 days
10. Bread and toast 3 days
11. Highly pasteurized milk (long life) whole and low fat 5 days
12. Juices 5 days
13. Eggs 5 days
14. Cold cuts 5 days
15. Soft drinks 10 days
16. Beer 10 days
17. Water 10 days
18. Chocolate (solid and drinks) 10 days
19. Cheese 10 days
20. Seed oils 10 days
21. Rice 10 days
22. Butters and margarines 15 days
23. Jams and spreads 15 days
24. Coffee packed 15 days
25. Halva 15 days
26. Legumes 20 days
27. Toasts 20 days
28. Pasta 20 days
29. Canned food 20 days
30. Frozen fish 20 days
31. Evaporated milk 20 days
32. Tomato juice 20 days
33. Sauces and stock cubes 20 days
34. Mayonnaise 20 days
35. Ketchup 20 days
36. Olive oil 20 days
37. Frozen vegetables 20 days
38. Frozen dough 20 days
39. Sugar and Sweeteners 20 days
40. Oat products 20 days
41. Baby cream 20 days
42. Canned dog food 30 days
43. Canned cat food 30 days.

Product categories that cannot be promoted for 3 months when there has been a price increase

1. Rice
2. Bread and toast
3. Pastries
4. Toasts
5. Pasta
6. Flour
7. Legumes
8. Cold cuts
9. Canned food
10. Frozen fish
11. Fresh pork
12. Fresh chicken and chicken parts
13. Fresh beef
14. Fresh whole milk with low fat
15. Highly pasteurized (long-life) whole milk with low fat
16. Chocolate milk
17. Herbal drinks
18. Evaporated milk
19. Yogurt and yogurt desserts
20. Creams and rice milk
21. Cheese
22. Tomato juice
23. Sauces and stock cubes
24. Mayonnaise
25. Ketchup
26. Eggs
27. Butters and margarines
28. Jams and spreads
29. Olive oil
30. Seed oils
31. Frozen vegetables
32. Frozen doughs
33. Sugar and Sweeteners
34. Oat products
35. Baby cream
36. Infant milk
37. Packaged coffee
38. Juices
39. Soft drinks
40. Beer
41. Water
42. Chocolate (solid and drinks)
43. Wine
44. Fuels (firewood, pellets, briquettes)
45. Detergents of all kinds
46. Kitchen roll
47. Toilet paper
48. Oral hygiene products
49. Shaving products
50. Menstrual products
51. Shampoo and hair care products
52. Bubble bath or similar
53. Liquid and solid soaps
54. Incontinence diapers
55. Diapers for babies
56. Baby wipes
57. Baby shampoo
58. Food for dogs
59. Cat food
60. Halva