Vegetables and fish, the "luxury" of summer/ About 10% more expensive than a year ago, food prices are picking up again
Food prices rose the fastest in July, with the strongest pressure coming from vegetables, fish and meat. In total, food and non-alcoholic beverages rose by 3.5% year-on-year, up from 3% in June.
Food remained the factor with the greatest impact on overall inflation. According to INSTAT, this group contributed 1.18 percentage points to the annual inflation rate of 3.4% in July.
The strongest growth was recorded in vegetables, tubers and legumes, which in July cost 10.1% more than a year earlier. The pace of price increases accelerated significantly compared to June, when the annual growth was 8.5%. The growth rate for vegetables returns to double-digit rates for the first time since January 2024, when it was estimated at 16.4%.
The increase in vegetable prices is also notable due to the fact that July coincides with a period of high supply from domestic production. In the summer months, meanwhile, demand for food products from hotels, restaurants and tourism activities also increases, which can put additional pressure on market supply.
After vegetables, fish and other seafood recorded the highest increase, at 9.4%, up from 9% in June. Meat also continued to become more expensive. Fresh, chilled or frozen meat cost 4.6% more than a year ago, compared to an increase of 4.2% in June.
The pressure also extended to other everyday products. Non-alcoholic beverages rose by 3.8%, milk, dairy products and eggs by 3.1%, while oils and fats by 2.6%. In all three of these categories, the growth rate was higher than in June.
On the other hand, fresh and dried fruits continued to be the exception, with prices 3% lower than in July of last year. The increase in prices of sugar, sweets and confectionery products also moderated slightly, from 2.5% in June to 2.2% in July.
The overall picture shows that food inflation is gaining momentum again, while the strongest increases are occurring in basic daily consumption products. Vegetables are the most obvious case, with an annual price increase that has already passed double digits.
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