Food stability scheme: These are the products bringing food inflation down

In January, the government announced a price stability scheme called Stabbiltà, by which the price of various food products will be reduced to a minimum of 15% of the recommended retail price.

And the scheme might be paying off. A recent report from the National Statistics Office shows that February’s food inflation dropped by 1.2% month-on-month. The Economy Ministry, which spearheads the scheme, welcomed the result as a show of success for Stabbiltà.

READ ALSO: Food price increases calm down in February

In a press statement, the ministry noted major drops in food inflation on various food products, including coffee, margarine, canned tuna, and frozen vegetables. Data charts published by the ministry indicate that the prices of these items have seen a significant decrease in inflation, bringing them closer to the European average.

Coffee prices, for instance, which had been on the rise since summer, saw a remarkable decrease in inflation from 15.6% to 6.5% in February, aligning more closely with European rates.

Similarly, inflation in frozen vegetable prices decreased from 14% to 7%, indicating a substantial improvement.

The scheme has not only affected products directly covered by it but has also influenced other food items indirectly. The credit agency Fitch reported that increased competition among food products has contributed to further price reductions, benefitting consumers across the board.

READ ALSO: Prices of staple foods to drop by 15% in February, remain stable for nine month