A meeting between Development Minister Takis Theodorikakos and representatives of the logistics sector a meeting has been scheduled between Development Minister Takis Theodorikakos and representatives of the supply chain, with the aim of establishing the framework for implementing price reductions on essential consumer goods starting in early September.
Speaking on Real FM, Takis Theodorikakos stated that the meeting aims to coordinate all relevant stakeholders in order to implement measures that will lead to lower prices for consumers.
Participating organizations
Participants include representatives from the Hellenic Federation of Enterprises (SEV), the Hellenic Food Industry Association, the Hellenic Supermarket Association, and the Hellenic Association of Branded Product Industries, which represents companies that produce detergents and personal hygiene products.
The meeting will also be attended by the director of the Independent Market Control Authority, Ms. Tsangari.
40 product categories on the table
According to reports, the Independent Market Control Authority, in collaboration with a major market research firm in the supermarket sector, has already compiled a list of approximately 40 product categories included in the “household basket.”
Based on this list, manufacturers are expected to consider price reductions starting this coming September.
The Results of the Profit Margin Cap
The minister also referred to the results of the profit margin cap measure, which expired on June 30.
Citing data from the Independent Market Authority, he noted that an average price reduction of approximately 6%was recorded across 1,898 product codes.
At the same time, he emphasized that following the expiration of the price cap, there is a shared understanding and coordination with market representatives to ensure there are no price increases during the summer—a period when increased tourist traffic could exacerbate inflationary pressures.
According to him, the primary goal remains maintaining market stability and further easing price pressures on essential goods.
Next Steps
Referring to the upcoming meeting, Takis Theodorikakos stated: “We will hold a well-organized and practical meeting with representatives of all business sectors, supermarkets, and, most importantly, the Independent Authority for Market Control and Consumer Protection, in order to identify and specify the categories and products where necessary measures can be taken to lower prices”.
The minister made it clear that the problem of the cost of living cannot be solved solely through such initiatives, noting that “if prices could be lowered by a single order or decision, they would have fallen a very long time ago.”
He added, “The most important thing is for our entire policy to make the economy more productive, so that people can earn better wages and our children—the young people—have better opportunities to live in Greece.”
Source: ERTnews