More than 2,000 products will be covered by the new price reduction initiative in Greek retail chains. This was announced by the Director General of the Association of Greek Supermarkets (SESME) Apostolos Petalas after a meeting with Development Minister Takis Theodorikakos, the state agency ANA-MPA reported, News.bg reports.
The initiative goes beyond the government's initial goals and provides for an average 8% reduction in the prices of key goods, covered by over 2,000 product codes. The measure is the result of an agreement between the main suppliers and large retail chains.
„In this challenging international environment, we are constantly struggling – within our capabilities – to keep prices under control, especially for essential goods“, Minister Theodorikakos said after the meeting.
He stressed that the government's goal is to ensure healthy competition and pressure on the market, so that the average profit is reduced to the benefit of society and the most affected households.
“This is a positive and necessary initiative, which we hope will be expanded further“, the minister added.
A public consultation will begin in the coming days on the creation of a new Independent Authority for Consumer Protection and Market Surveillance, whose mission will be to strengthen control and unify the legal framework by codifying consumer legislation.
On the business side, Apostolos Petalas said that the organized food sector in Greece – including all large supermarkets and their main suppliers – responds to the call of the state in the interest of society and the most vulnerable households.
“This is an ongoing effort by the business community in collaboration with the Ministry of Development – to offer high quality products at the best possible prices, despite the difficulties caused by inflation, the energy crisis and the impact of climate change on global food supplies“, said Petalas.
The price reduction measure will be accompanied by increased monitoring of the market, with the government's aim being to limit speculative markups and restore consumer confidence amid continued pressure on household budgets.