Bread is trying to turn into a luxury item in Greece, as its price is constantly increasing.

According to the data of the Statistics Agency, within a year, the price of a loaf of bread has increased by 18.4%, while consumers reduce the amount of purchases. 

The decrease in turnover combined with the increase in operating costs has caused 204 bakeries across Greece to close, while it is estimated that 10% - 15% of the 14,400 businesses in this sector are on the verge of bankruptcy. 

According to the main article of the "TA NEA" newspaper, the prices of raw materials for bakeries have increased to the maximum, sunflower oil from 10 euros for 10 liters has gone to 33 euros, flour from 12 euros for a 25 kg bag, now it costs 24 - 25 euros, sesame from 1.60 kilograms to almost 3 euros. Since the beginning of the year, the general turnover of traditional bakeries has decreased by 20%, in other words by almost 500 million euros. 

In the last year, the cost of energy for businesses has doubled or tripled. A bakery that paid 1,980 euros for electricity in the summer of 2021, in October of this year received a bill of 5,914 euros, so almost 3 times more. Also, a bakery that used gas and in the summer of 2021 paid 870 euros for natural gas, last month the fuel bill came to 2600 euros and the bakeries that use diesel have the same increase. 

Greece, which has again recorded an inflation record for the month of September at 12% from 11.4% in August, is in the eleventh place in Europe for the increase in the price of bread in the last year. It is worth noting that this year, in addition to bread, the prices of natural gas have increased in the country by 332%, oil for heating by 65.1%, electricity by 30.5%, the prices of milk and eggs have increased by 23.3% and 17.6 % meat and oils.