The price index in organized supermarkets moved from positive to negative territory within one month, as according to the monthly survey by the Institute of Retail Consumer Goods Research (IELKA), prices were on average 0.47% lower in July 2026 compared with the same month in 2025. This is the lowest reading since December 2024, as the index turned negative just one month after the +0.39% increase recorded in June.
The decline is also reflected in the month-on-month comparison, with prices falling 0.77% compared with June, versus the 0.29% decrease recorded in the previous month. At the same time, the rolling twelve-month index (August 2025 – July 2026) stood at +1.37%, down from +1.56% one month earlier, confirming the gradual easing of inflationary pressures in organized retail.
The downward trend is also consistent with recent Eurostat data, according to which food prices in Greece fell by 0.3% in July on a monthly basis, for the first time after 19 consecutive months of increases. The IELKA measurement, which focuses exclusively on large supermarket chains and is based on actual sales data, shows an even stronger decline in organized retail.
An indication of the broader easing is that both sub-indices making up the overall index moved into negative territory, with food products declining by 0.25% and non-food products declining by 1.47%, showing that the price reductions now cover a wider range of goods.
Of the 23 categories examined in the survey, 11 recorded price decreases and 12 recorded increases. The largest price reductions were recorded in:
- Fresh fruits and vegetables: -6.97%
- Pet food and pet supplies: -5.21%
- Fresh and frozen dough products: -4.27%
- Breakfast products and beverages: -1.98%
- Dairy products: -1.69%
On the other hand, the largest increases were recorded in:
- Ready-made meals: +3.75%
- Water, soft drinks, and juices: +3.26%
- Eggs, butters, and broths: +2.99%
- Nuts: +2.79%
- Cold cuts and processed meats: +2.71%
IELKA attributes the stabilization of prices both to the normalization of the market and to lower producer prices in certain categories, as well as to the operating characteristics of large supermarket chains, such as economies of scale, faster inventory turnover, and the increased share of private-label products.
In particular, favorable weather conditions played a decisive role in fresh fruits and vegetables, while in fresh meat, the normalization of producer and import prices contributed to the decline in retail prices.
The survey was released a few weeks before the implementation of the National Social Agreement for voluntary price reductions on essential consumer goods. The easing recorded by IELKA indicates that inflationary pressures in organized retail had already begun to decline before the initiative was activated, with the program aiming to further contain prices through the end of the year.
It should be noted that the IELKA survey is based on the analysis of actual monthly sales data from major supermarket chains rather than on sampled price observations. It captures changes in the unit selling value per product category.
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