Wholesale Food Prices Down 10% Y/Y in August

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Wholesale Food Prices Down 10% Y/Y in August

Even though most food prices have steadied over the last two years, their level remains higher than in August 2006 as a result of the steep rise of these goods down the chain in summer 2007, the State Commission on Commodity Exchanges and Wholesale Markets said.

In August 2009, the wholesale market price index stabilized at some 10 per cent below the level of the like month a year ago.

Last month, the index persistently tended down, from 1.578 points at the beginning of the period to 1.531 points two weeks later, its lowest level since the beginning of the year. At the end of August, the index steadied at 1.536 points.

Year on year, August wholesale prices fell 41 per cent for cooking oil, 25 per cent for flour, 10 per cent for Vitosha kashkaval, 21 per cent for white brined cow's cheese, 11 per cent for poultry meat, and 8-10 per cent for sugar, beans and rice.

Compared to August 2008, mackerel was 12 per cent more expensive last month, frankfurters 13 per cent, and mincemeat 6 per cent. The prices of dry and fresh sausages and of lentils were almost unchanged. Eggs edged up by 6.3 per cent (0.01 leva apiece).

An analysis of staple foods wholesale prices over the last five years shows that most of them are considerably lower than in August 2007 (when foods did not cheapen in the summer) but still remain above the 2005-2006 level.

In August 2009, fruit were cheaper than a year ago: apples 30 per cent, peaches 24 per cent, and water melons and melons 7-8 per cent. Most vegetable prices, too, were lower or approximately unchanged from last August. Both field and hothouse tomatoes were 35-39 per cent cheaper, year on year, green peppers 22 per cent, garlic 19 per cent, and hothouse cucumbers 10 per cent. Field cucumbers were 3 per cent more expensive, and potatoes and cabbages 18 per cent up, year on year.

Compared to July 2009, most staple food prices were 1-3 per cent lower in August.

Source: BTA

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