Development Minister Takis Theodorikakos announced that the prices of 2,000 products, which fell by 6% due to the profit margin cap imposed on businesses, will remain reduced throughout the summer as part of measures to tackle high prices.
“The end of the war in the Middle East is leading to the normalization of oil prices and, consequently, a de-escalation of the international inflationary pressures that have existed in recent months,” Mr. Theodorikakos said. He added that “there was a common understanding of the need for this de-escalation to be reflected in product prices, initially during the two summer months, with full price stabilization and no further increases.”
Then, from the beginning of September, prices on essential products widely used by the average household will be reduced “substantially.”
Mr. Theodorikakos reminded the public that the profit cap measure expires tomorrow, which is why the new measures were announced today.
“There will be preparations to implement, from the beginning of September, as part of a national social agreement, a substantial reduction in the prices of essential products that concern consumers and are widely used by the average Greek household. Our goal is to protect consumers. Therefore, I remind you that the profit cap measure expires on June 30,” the Development Minister stressed.
The announcement followed a meeting at the Maximos Mansion between the government and representatives of various bodies, including the Hellenic Food Industry Association, the Independent Consumer Protection Authority, and the Greek supermarket association.
Sources: News 247, ERT
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