According to figures released by the Hellenic Statistical Authority (ELSTAT), food inflation in Greece for December 2024 was down compared to the previous month.
Specifically, annual inflation in the category of “Food and Non-Alcoholic Beverages” fell to -0.3%, compared to December 2023. In the “Food” subcategory, inflation decreased further to -0.5%, signaling price reductions in several essential food products.
Overall inflation stood at 2.6% in December and averaged 2.7% for the entirety of 2024.
Significant Reductions in Household Expenses
ELSTAT also reported notable price declines in the “Cleaning and Maintenance Products” category, where prices dropped by -7.9%. This comes alongside government measures implemented in 2024 to limit practices such as discounts, credits, and supplier-supermarket incentives. These regulations aimed to ensure price reductions were reflected directly on store shelves, benefiting consumers.
Notable Price Reductions in Food
Key reductions in food prices included:
- Flour and other cereals: -5.5%
- Pasta: -4.8%
- Poultry: -3.7%
- Frozen fish: -1.3%
- Frozen seafood: -10.1%
- Fresh whole milk: -6.2%
- Light milk: -5.2%
- Evaporated milk: -4.5%
- Yogurt: -2.9%
- Cheese: -3.9%
- Fresh fruit: -3.5%
- Sugar: -23.7%
- Baby food: -4.3%
- Other food items: -4.0%
Declines in Other Categories
- Cleaning products: -7.9%
- Personal hygiene products: -3.3%
These price reductions reflect a broader trend of cost-of-living relief for Greek households, supported by targeted government policies and market adjustments.
The Greek Ministry of Development announced that in 2024, its services conducted hundreds of inspections aimed at combating unfair profit-making practices in both Greek and multinational companies.
The inspections resulted in the imposition of substantial fines, which have driven significant compliance within the market. These actions have also contributed to curbing price increases linked to the global inflationary crisis.
