Filenews 15 August 2025 - by Theano Thiopoulou
Prices hardly leave basic commodities and even slower prices can go back four years despite the fact that inflation has been steadily de-escalating over the past three months. Indicative of what the numbers show, is that in July the consumer price index recorded deflation at 1% and it took several years for it to fall from the high levels. It should be noted that the last time deflation had occurred, before the last three months, was in March 2021.
According to market executives, this was to be expected since the price rally began after the outbreak of the war in Ukraine. Thus, despite the fact that inflation has fallen noticeably and as a result of which price increases have been limited or even stopped, prices need time to subside. How much the prices of basic products have increased -cumulatively- in the last four years, is a crucial question that concerns thousands of consumers, who, according to the common admission of all trade players, continue to buy even the essentials with caution. Although in recent months the intensity of price increases has not corresponded to that of the previous year, at this stage, it should be taken into account that every additional revaluation that takes place, no matter how small, comes in addition to the previous ones, resulting in a large overall burden.
"Fileleftheros", utilizing the latest available data from the Statistical Service, made the comparison between July 2021 and July 2025. What emerges is that the price increases over the last four years are very serious and have been incorporated for good into the prices of most products, which remain very expensive, regardless of the significant decrease in the rate of price increase, as shown by the current level of inflation. So, if we compare the consumer price index of July 2025 with July 2021, the result shows that the average price increase over the four years was 13.8%, while -even worse- the food price index increased by 17.7%.
Shock from the increases
The price of olive oil on the shelves of supermarkets has hit red from July '21 to July '25 and increased by 44.2%. But this is not the biggest increase in food items. The big surprise in price increases over the past five years comes from potatoes, with their price rising cumulatively by 73.5% while vegetable prices rose by 14.3%. According to data from the Statistical Service, in the last four years the price of beef and beef increased by 52%, lamb and goat meat by 52.9%, and pork by 31.2%, while in poultry the increase was smaller, 12.8%.
Inflation also affected the price of bread, one of the main food products, with an increase of 22.6% in four years, rice by 28.2%, while prices of bakery and confectionery products recorded an increase of 21%. Dairy products were not spared from the price either. The price of fresh whole fat milk increased by an average of 14.3%, low-fat milk by 156.5%, preserved milk by 32.5%, yoghurt by 7.1%, cheese by 15.5% and eggs by 41.3%. Fish prices rose by 16.64%, fresh fish by 27.1% and frozen seafood fell by 2%. The price of wine increased by 6%, beer by 7.4%, tobacco by 6.5% and cigarettes by 4%. For example, the price of electricity increased by 30.8%, LPG (bottle) by 35.6%, diesel by 11.4%, gasoline by 6.2%, spare parts by 20.1%, and tires by 23.4%. The price index of new cars increased by 19%, used cars by 17.7%, motorcycles by 8.1% and bicycles by 6.42%. The price index for renting garages and parking spaces increased by 9.6%, road passenger transport by 24.95%, international flights by 5.2%.
