Food prices

Slovenia's annual inflation rate slowed to 6.1% in July, 0.8 percentage points lower than the month before, but data from the Statistics Office shows rising food prices remain a problem.

Prices of food and non-alcoholic beverages rose by 11.1% in a year, contributing 2 percentage points to the headline inflation rate, data released on 31 July shows.

Alarming data emerged for Greece from Eurostat's final data for June's European Union-harmonized consumer price index: Last month Greece recorded the highest monthly increase at 3.3% in prices in the food category not only in the eurozone, but throughout the European Union. In fact, the increase recorded in food prices in June compared to May was even higher than that in Turkey.

It appears there is no end to food price hikes, as in just one month, June, increases of 2.1% were recorded compared to May 2023. Therefore, although the general consumer price index fell below 2% in June to 1.8%, so-called food inflation jumped to 12.2%.

Data presented by the Hellenic Statistical Authority on Friday showed that prices increased further last month at a time when many were convinced that they would drop a tad.

BELGRADE - Serbian March inflation was 0.9 pct m-o-m and 16.2 pct y-o-y, with food and energy price increases still accounting for about two thirds of headline inflation, the National Bank of Serbia (NBS) said.

In a statement, it said m-o-m and y-o-y inflation in March was "in line with NBS projections for Q1."

A number of goods and services are expected to stabilize at high prices in Cyprus in the coming period, while food prices are expected to rise ahead of Easter. These are the conclusions drawn from the Consumer Price Index for the first two months of 2023, as well as reports from market professionals to Kathimerini Cyprus.

"Promotions are going on in the commercial chains with a reduction of food and essential goods by 25-27 percent," announced acting Prime Minister Galab Donev to reporters in Kyustendil.

Checks on the uncontrollable increase in the price of goods in the store network will continue, he added.

BELGRADE - According to figures released by the national statistical office, Serbian January inflation amounted to 1.4 pct, or 15.8 pct relative to January 2022, which is consistent with National Bank of Serbia (NBS) expectations, the central bank said in a statement.

"Around two-thirds of headline inflation remain attributable to food and energy prices.

The Central Bank has not changed its 2023 inflation forecast and maintained its year-end consumer price index at 22.3 percent.

World food prices fell for a ninth month in a row in December but hit their highest level on record for the full year in 2022, U.N. data have showed.    

Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world.