Greece’s cabinet has approved a national price-reduction initiative covering 850 product codes with average discounts of 7%, as Prime Minister Kyriakos Mitsotakis called inflation the "biggest issue" facing Greek households.
By Yiorgos Pappous
Development Minister Takis Theodorikakis told ministers that 62 suppliers and 10 supermarket chains have joined the effort, slashing prices on dairy, meat, pasta, pulses, cleaning products, personal hygiene items, baby food and diapers.
An additional 300 school-supply items will see cuts through six retail chains ahead of the new academic year.
Mr. Theodorikakis said that while food inflation turned negative in July, geopolitical tensions and rising oil prices ahead of winter remain inflationary risks.
“We cannot be complacent,” he said, adding that the product list remains open for daily additions.
Mr. Mitsotakis said prices for staples such as olive oil, fruit and vegetables are already lower this month than in July.
“From Sept. 1, when the National Price Reduction Agreement takes effect, there will also be market initiatives on school supplies so that the return to normality in September comes with the smallest possible financial burden for the average Greek household,” Mr. Mitsotakis said.
The measure, expected to run through year-end, requires minimum 5% cuts, with some categories seeing reductions up to 15–20%.
Consumers will track participating items via the PosoKanei platform and in-store labels.