Organized retailers and suppliers are in the throes of a new round of rising energy costs and commodity prices, with commodity price hikes a one-way street.
For their part, consumers are experiencing the shock of war and inflationary pressures, cutting back on spending, choosing fewer and cheaper products, and looking for deals to fill their shopping cart.
According to Michalis Mousios, president of the Hellenic Bakers’ Federation, the price of flour has skyrocketed in a few weeks.
“The first receipts of soft grains last week were up by to 60% up. The small sack from 13 – 15 euros that was old, exceeded 22 euros “.
“We import 20% of soft grains from Ukraine, 10% from Russia and 5% from Moldova,” Moussios said, noting that increases in basic items such as bread would be inevitable.
“We will see increases in the coming days. I can not determine what they will be, but we will definitely not stop here. “No one can estimate where the increases will go.”
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