Supermarket prices set to remain stable over summer under voluntary pact

As stated, at the meeting there was a shared understanding with representatives of industry and supermarkets that, in the first phase, over the two summer months there should be full price stabilisation, with absolutely no increases. This commitment, he said, also concerns approximately 2,000 product codes whose prices have been reduced by an average of 6% in recent months, following the implementation of the profit margin cap.

“Business commitment is that these reductions will remain in place during the summer two-month period for these 2,000 product codes,” said Mr. Theodorikakos Takis Theodorikakos.

At the same time, he announced that by early September the preparation will have been completed for the implementation, as part of a national social agreement, of a new framework for substantial price reductions in basic products widely used by Greek households. As he clarified, the objective is not the number of products included in the agreement, but rather the coverage of essential product categories in order to provide meaningful relief to consumers.

Referring to the price cap measure, the Minister described it as “a highly interventionist measure of a socialist nature, but necessary,” adding that “what we wanted to get from the cap, we have achieved,” as price reductions were secured in approximately 2,000 products, including meat.

The meeting at the Maximos Mansion was attended, in addition to Prime Minister Kyriakos Mitsotakis, by Deputy Prime Minister Kostis Hatzidakis, Minister of Development Takis Theodorikakos Takis Theodorikakos, the Governor of the Independent Authority for Consumer Protection Independent Authority for Consumer Protection, SEV President SEV (Hellenic Federation of Enterprises) Spyros Theodoropoulos, President of the Hellenic Food Industries Association Giannis Gaitis, and General Director of the Hellenic Super Market Association Apostolos Petalas.