With 700 products from 60 suppliers and price cuts averaging 5%, the government is seeking to contain the cost of the shopping basket in the final two months of the year.
The agreement between the Ministry of Development and manufacturers paves the way for the list to be expanded from next week, with the addition of meat and private-label products. However, the initiative is being tested by further price hikes for food, which are limiting the benefit to consumers.
The cuts secured so far average 5%, while they reach 8% to 10% for a limited number of product lines. Sources familiar with the matter say the response from businesses is considered positive, although the number of products included remains significantly below the 1,400 product lines that took part in the first two months of the measure, excluding school supplies.
The push to expand the initiative coincides with a new round of price rises for dairy products. Increases of 7% to 12% have been in effect since 1 October across around 100 product lines, with dairy companies citing higher raw material and production costs. The greatest pressure has been recorded in cheeses made from sheep’s milk, mainly feta and kasseri, where increases of 5%, 7% and 9% had been announced.
The Ministry of Development points to Eurostat figures showing that food inflation in Greece stood at -0.4% in July, 0.1% in August and -0.2% in September 2026. The easing in the index, however, does not undo the cumulative increases of previous years or the differing price trends across individual categories.
The initiative’s continuation until the end of 2026 was agreed at a meeting between Development Minister Takis Theodorikakos, SEV president Spyros Theodoropoulos and SEVT president Ioannis Giotis, attended by Despina Tsangari, governor of the Independent Authority for Market Control and Consumer Protection.
The two associations will continue talks with their member businesses to bring more product lines into the initiative, while the Association of Supermarkets of Greece has also reaffirmed its participation.
At the same time, a special Christmas package is being prepared, covering products for the festive table and price cuts that, according to government announcements, could reach up to 25%.