Greece extends supermarket price reduction initiative to 1,000 products

Minister of Development Takis Theodorikakos announced that Greece will extend its initiative to reduce supermarket prices until the end of the year.

The government plan covers approximately 1,000 codes for basic food items, household supplies, and personal care products such as shampoo and shower gel. This new list is smaller than the previous phase, which included about 1,760 codes, because the government removed school supplies from the current selection.

The minister expects an average price reduction of about 6.5% during this next phase. This is lower than the 9.5% average reduction seen during the first period of the agreement. Most price cuts will be single digits between 6% and 7%, though some products may see double-digit reductions. Theodorikakos stated that the government is doing what it can but noted that more pressure on the European Union is necessary to better address the economic pressures facing European societies.