Deco explains that between January 4 and 8, the average increase in the 41 products was 5.29%, bringing their total to €7.51 and the average basket cost increasing from €141.97 to €149.48, respectively.
Liquid yogurt, cooking oil and tuna in olive oil were the products that increased the most in the four days since the end of the zero-value-added tax regime, according to a DECO Prosti estimate. According to the Consumer Protection Organization, the prices of 41 basic products that were part of the basic food basket rose by more than 6% in 14 products.
DECO explains that between January 4 and 8, the average increase in the 41 products was 5.29%, for a total of €7.51 and the average basket cost increased from €141.97 to €149.48, respectively.
With the end of the exemption, products returned to the VAT rate of 6%, with the exception of cooking oil, which moved to 13%, compared to the previous rate of 23%, Deco explains.
Deco Prosti believes that retailers raised prices to less than 6% on more than 21 products, and “there may have been an attempt to mitigate the direct impact of the reintroduction of VAT through promotions on products covered by the exemption.”
This practice may have contributed to reducing the initial impact felt by consumers,” says Rita Rodrigues, communications director at DECO Prosti, who also warns, “It is possible, especially on the first day of the reintroduction of VAT, that there will be some delay.” In applying value added tax. Update announced prices.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.