Supermarket: Expectations of lower prices after measures to deal with inflation

The supermarkets started off 2024 with an increase in turnover.

According to data from the research company Circana, total sales volume in the first month of the year amounted to 825 million euros, compared to 807 million euros in January 2023.

The increase in turnover by 1.8% was not solely due to inflationary reasons, as there was also an increase in sales volume by 1.1%, indicating a price increase of 0.7%. At the same time, private label products saw a 3.6% increase, reaching a 27% share of the total market, with the increase mainly attributed to food products.

At the same time, measures by the Ministry of Development to address inflation, which appear to lead to a readjustment of companies' commercial policies, have been implemented since March 1st.

Describing the new situation that has begun to take shape in the market after two particular years with high inflation and an energy crisis, Vice President and CEO of Circana Panagiotis Boretos speaking to the Athens Macedonian News Agency, points out: 'From the messages we have received so far, we estimate that this year will be particular, as a combination of factors affects its course, and the measures of the Ministry of Development have also been implemented to reduce the intensity of inflation."

AA