Ministry of Development

Minister vows more measures against inflation

Development Minister Kostas Skrekas pledged on Saturday that the government will take more measures to tackle the high retail consumer prices. 

"Obviously, the main problem for households is the high supermarket prices and that is why the government and the Ministry of Development will not stop until we see lower inflation and reduced prices," he told Skai TV. 

Four steps against inflation

Transparency in prices by cracking down on fictitious discounts, but also lower prices on basic items like detergents, cosmetics and baby care products - where Greece appears to be one of the most expensive countries in Europe - are the main targets of four new measures unveiled by the government to combat inflation.

Price hikes for most food items

Over three quarters of food items (46 out of 60) measured by the Hellenic Statistical Authority (ELSTAT) recorded price increases within a month, from September to October, a fact that shows that the de-escalation of inflation and especially food inflation is still slow. 

Greece fines Unilever, P&G

The Ministry of Development has formally declared war on multinationals, imposing fines on the two largest companies in the consumer goods sector, Unilever and Procter & Gamble, a war that had been announced by the prime minister himself a few weeks ago.

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