Greece’s Development Minister Takis Theodorikakos announced that a list of more than 1,000 supermarket products set for price reductions will be released in the first half of October. The move follows talks with major supermarket chains and the country’s food industry representatives.
“The government is fighting every day to improve citizens’ living standards, with tax cuts, wage increases, and stricter consumer protection checks,” Theodorikakos said after the meeting.
According to the minister, Greece’s food inflation currently stands at 1.4%, significantly lower than the Eurozone average of 3%. He described the new initiative as “positive and necessary,” but urged retailers to go further.
Call for greater corporate responsibility
Theodorikakos pressed supermarket chains to lower their average profit margins, which would allow for deeper and longer-lasting discounts across more product categories. “It is a matter of social responsibility and cohesion,” he said, emphasizing the importance of supporting struggling households.
The price-cutting initiative is the result of cooperation between the Ministry of Development, the Hellenic Food Industry Association, and the Hellenic Supermarket Association.
