The Greek government has announced a package of measures aimed at easing the cost of living, supporting consumers and boosting investment, including temporary diesel price relief and planned price cuts on essential supermarket goods.
Development Minister Takis Theodorikakos said total support for diesel prices will reach 15 euro cents per liter in August. The measure combines a 10-cent-per-liter subsidy announced by the prime minister with a 5-cent-per-liter reduction provided by refineries.
According to the minister, rising diesel prices affect the entire supply chain, ultimately increasing the cost of consumer goods.
“We are not standing by as spectators. We are addressing the problem and taking action,” Theodorikakos said, adding that similar measures could be extended beyond August if the conflicts continue.
He also warned that the coming winter could become particularly challenging if the wars in the Middle East and Ukraine persist.
“If the current situation with the two wars in the Middle East and the war in Ukraine continues, the winter will be extremely difficult, with much greater inflationary pressures,” he said.
Supermarket Price Cuts Planned
The minister also announced that prices will remain frozen throughout the summer following an agreement between the government, industry representatives and supermarket chains.
Beginning August 31, prices on a range of essential products are expected to fall by 5% to 20%.
The reductions will cover food, household essentials, home maintenance products and personal hygiene items. Authorities are currently compiling the list of eligible products, with further announcements expected during the final third of August.
Theodorikakos emphasized that retail prices are not set by government decree but said the state has a responsibility to ensure markets operate with greater transparency and fairness.
He noted that inspection mechanisms and Greece’s Competition Commission have been strengthened, while a cap on profit margins has been introduced. According to the minister, fines totaling €25 million have already been imposed and collected.
He acknowledged that the measures would not solve inflation entirely but argued they would provide meaningful relief.
“No one claims this will solve the problem of high prices. However, saving €30 or €40 on a household’s monthly grocery bill is significant support for people who are struggling,” he said.
Investment Program Advances
Theodorikakos also highlighted progress under Greece’s Development Law, saying 270 businesses have submitted investment proposals covering manufacturing, supply chains, specially supported regions and large-scale investments.
The evaluation process is expected to be completed within three months.
The three investment programs have a combined budget of €450 million, while an additional €150 million agri-food program brings total available funding to €600 million.
The minister said particular emphasis is being placed on investments in manufacturing, agri-food production and border or economically weaker regions.
“Industry offers better wages and more opportunities, especially for young people,” he said, adding that the investments could create thousands of better-paid jobs while supporting regional development.
