Decline in Food Prices, Alcoholic Beverages Rise According to 'Fact' Newspaper

The "Fact" newspaper reports that in February, there was a 0.5% decline in consumer prices compared to the same period last year. This information is derived from data published by the Statistical Committee, which concerns price changes in the consumer market for January and February 2020 compared to the same months in 2019. It’s worth noting that in contrast to February 2020, January 2020 experienced a 0.3% inflation compared to January of the previous year.

First, let’s particularly examine essential food items. In February of this year, a 4.2% decline was recorded in food prices compared to the same period last year, which is more than the 1.8% decline noted in January 2020 compared to January 2019. Continuing from January, the trend of decline in the meat market persisted in February as well, with an overall reduction in prices of 4%. In January 2020, a 2.7% decline was observed compared to the previous January. Specifically, the price of beef decreased by 3.4%, pork by 12.2%, lamb by 0.9%, and poultry by 8.2% in February 2020 compared to February 2019.

There was also a decline in the fish and seafood market, where prices fell by 4.5% overall in February 2020 compared to the same period in the previous year. In particular, fresh or frozen fish saw a 5.6% price drop, although frozen fish experienced a 4.7% increase.

The situation differs in the market for processed meat products, which saw a 1.2% price increase. There was also an increase of 0.7% in the semi-finished products market. Conversely, significant declines were noted in the dairy, cheese, and egg markets, with an overall decrease of 7.6%. However, there was a 0.2% increase in the price of pure milk, a 0.4% increase in canned milk, and a 1% increase in yogurt and sour cream. The egg market, which has spurred numerous discussions and ongoing studies, experienced a 25.9% decline in February compared to the same period last year. It's noteworthy that in January 2020, the price decline in the egg market was 10.4% compared to the previous January.

In February 2020, there was also a noted 5.8% decline in the butter market. Interestingly, the fruit and vegetable market, which consistently experienced inflation in those months, is now seeing a downward trend in prices. In February, fruit prices fell by 2.1%, while the vegetable market recorded a decline of 12.9%. The price of potatoes dropped by 12% as well. The decline recorded in the confectionery market was less significant at 0.7%.

Although the food market generally reports a decrease in prices, there are increases in certain essential consumption items. For example, the market for bakery and cereal products saw a 3.2% increase in February 2020 compared to February 2019, with rice rising by 2.5%, flour and grains by 2.9%, and bread by 2.5%. The pasta market recorded a 4.1% increase, albeit with a greater inflation of 7.4% noted in January 2020 compared to the previous January.

In contrast to the mentioned food products, the situation in the alcoholic beverages market reveals a 9.1% increase. Specifically, the price of vodka has surged by 13%, wine by 2.1%, sparkling wine by 1.8%, and beer by 4.4%. It’s relevant to highlight that in January 2020, the alcoholic beverages market registered a 3.3% increase compared to January of the previous year. As a result, prices in this market have nearly doubled.