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Greeks pay high prices for dairy products although producer prices fall

Greek consumers still pay a high price for dairy products compared to the rest of the Europeans, even though the prices of fresh milk, yogurt and butter have fallen – even marginally – in the seven months of this year on the shelves of domestic supermarkets.

However, it seems that even these marginal reductions of the order of 2-2.3% have begun to “gnaw away”, with prices starting to rise again, while at the same time producer prices are falling.

As can be seen from the analytical data of the Hellenic Statistical Authority (ELSTAT), in the seventh month of this year, the prices of fresh milk, both full-fat and reduced-fat, have fallen by 2.25%. In yogurt during the same period, the drop is 2.36%, while the decrease in the price of butter is of the order of 0.05%.

But compared to the rise in these items in the 26 months that food inflation has hammered family budgets, the decline is negligible. It is typical that the price of raw milk in the period from June 2021 to July 2023 has increased, according to ELSTAT, by 26.42%.

Although the prices still maintain a negative sign, in July, after a streak of 5 months, they started to “bite” again.

Indicative is the fact that in the first half of this year the prices of yogurts were reduced by 3.34%, while the decline in the price of fresh milk was of the order of 2.64% and in butter 1.71%.

The upward trend in prices is also reflected by the data of the European Statistical Authority (Eurostat). Specifically, in July the price of fresh milk in Greece appears to have increased on an annual basis by 9.9%, above the increase at the level of the Eurozone (+8.4%) and the European Union (+8.9%), of yogurt by 11.4% and of butter by 7.4%.


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