The initiative to cut supermarket prices is being extended to around 1,000 product lines covering food, household goods and personal care, and will remain in place until the end of the year. Development Minister Takis Theodorikakos confirmed that the agreement with businesses would continue during an appearance on ERTnews’ “Connections” programme.
The new list, which is expected to be announced later today, includes around 1,000 products and is shorter than the previous one, which contained around 1,760 product lines. School supplies have been removed from the new list, while essential goods for households’ everyday needs remain.
The product lines include food, cleaning products and other household goods, as well as personal care products such as shampoos and shower gels.
The average price cut in the new phase of the initiative is expected to be around 6.5%, compared with 9.5% during the agreement’s first phase. Most cuts will be in single digits, ranging from 6% to 7%, although some products could see double-digit reductions.
The agreement runs for a total of four months, from early September to the end of December, and is being implemented in two consecutive phases. The first covered the period from 1 September to 31 October, while the second applies to the new list of around 1,000 products.
Consumers will be able to identify products included in the initiative by the special information labels on supermarket shelves, as in the previous phase.
Meanwhile, the festive-season list is expected to come into effect around 15 December. It will mainly include food used to prepare the Christmas meal. According to comments made on the programme, price cuts on these products could be even greater.
Takis Theodorikakos stressed that the initiative stemmed from an informal agreement with manufacturers and food producers, adding that the commitment to keep prices in check remained in force until the end of the year.
However, the minister warned that this winter would be difficult for households, noting that while prices are being cut on the 1,000 product lines in question, increases in other products are highly likely.
“We are doing what we can,” he said, adding that greater pressure needed to be brought to bear on the European Union to address more effectively the economic pressures facing European societies.