The Greek price reduction plan, an ambitious government scheme to tackle rising prices on essential consumer goods is showing promising results, according to the Ministry of Development. The initiative which aims to achieve price reductions on 600 products, is close to its target, with supermarket shelves now displaying discounts ranging from 5% to 25%.
So far, based on the latest list released by the relevant ministry, the initiative covers 523 products, showing a strong upward tendency. The ministry’s departments are being updated on a daily basis with new product codes being added to the program. This marks a significant expansion compared to the previous list, which included 362 products with similar price reductions between 5% and 24%.
Market sources predict that the number of discounted products will soon exceed the 600-product target.
In a recent meeting with the representatives of the Greek Supermarkets Association, Development Minister Takis Theodorikakos, urged retailers to intensify their efforts to maximize the effectiveness of this new initiative aimed at curbing inflation.
Theodorikakos specifically requested supermarkets to extend the scope of price reductions beyond the 600-product goal, prolong the duration of the initiative, and introduce clear labeling on shelves to assist consumers in identifying discounted items.
The General Director of the Greek Supermarkets Association emphasized the industry’s commitment in supporting this initiative by stating “Our goal is to achieve substantial price reductions on well over 600 product codes over an extended period. The two-month duration initially discussed is just a minimum threshold for this initiative.”
This initiative is a key part of the government’s strategy to provide relief to consumers facing the challenges of rising living costs, demonstrating a proactive approach to easing economic pressures in Greece.
