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Friday, May 20, 2022

GREECE – Easter lunch to cost 9 pct more than in 2021, consumer group IELKA estimates

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The average ‘basket of goods’ for the 2022 Easter feast will cost 45.34 euros – or 9 pct more than in 2021 – for two people at the major supermarket chains in Greece, not including the cost of the traditional lamb or goat meat, according to a report by the Institute for Retail Consumer Goods Research (IELKA) on Friday.

The report is based on raw data collected by IELKA researchers from the larger supermarket chains and concerns prices during Holy Week and data from the e-katanalotis app, for products typically bought by Greek consumers for the celebratory Easter meal, such as eggs, flour, tsoureki cake, vinegar, mustard, feta cheese, yoghurt, wine, beer, potatoes, tomatos, butter, lettuce, filo pastry and soft drinks.

IELKA said the higher price was in line with inflationary pressures seen in recent months, while the spread in prices was high, with a 35 pct difference between the cheapest and most expensive products for a typical basket, indicating a range of choices for consumers.
This includes a number of promotional offers and discounts by suppliers and supermarkets, available for almost all seasonal goods and which could lead to benefits of up to 13 pct for those making use of them.

The biggest price hikes were for lettuce (due to poor weather) and flour, while prices for yoghurt, beers and soft drinks were lower.

The price of the lamb and goat meat that is the centrepiece of the Easter feast, has not yet fully settled but is considered likely to be higher as Easter approaches, while the cheapest prices are likely to be found in larger supermarket chains due to economies of scale.
The higher prices are due to a combination of factors that include higher exports to Europe due to the Easter week for Catholics and protestants, fewer imports from Britain due to Brexit and the relative shortage of animals with the optimal weight of 10-13 kilos, due to a later Easter.

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Based on an IELKA survey on a sample of 1,000 consumers, meanwhile, Greeks have not returned to pre-pandemic levels in terms of how they celebrate Easter. Those participating in large family gatherings of more than 10 people have risen to 30 pct in 2022 but are still a far cry from the 62 pct prior to the pandemic. Similarly, fewer people will travel to a village or island to spend Easter (25 pct from 58 pct in pre-pandemic periods), partly due to higher travel costs.

There will also be fewer people roasting whole animals on a spit, again down to 25 pct from 61 pct in previous years, while the percentage who will roast their meat in the oven has increased from 39 pct to 52 pct.


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