Supermarket

Measures combating rising prices will be implemented across 3,000 consumer products from Friday, March 1.

Specifically, the new measures imposed will reduce the discounts enjoyed by supermarket suppliers and transfer reduction to the consumer, who should see a drop in prices of up to 30%.

The new measures to combat high prices are expected to lead to double-digit reductions in the prices of certain categories of products on supermarket shelves in March, the general director of the Supermarkets' Association of Greece, Apostolos Petalas, said on Sunday.

The measure banning special offers on retail products whose prices have been hiked is being extended to more products, concerning those with an increase after January 10, 2024, in an apparent effort by the Development Ministry to reduce inflation as high prices remain the biggest problem for citizens.

The Bank of Greece is preparing to sound the alarm on the issue of prices, presenting a study that will highlight the reasons why Greece is more expensive than its peers in a range of products, including supermarket items.

Efood Market, the supermarket arm of online platform efood, is reducing prices on 1,200 products so that it can offer its customers a variety of options at affordable prices in the present climate or rising costs, it said in an announcement. 

Greeks remain inflexible on food spending since, despite the reduction in disposable income due to constant price hikes, the expected reduction in sales volume, which would probably also work in the direction of deflation, has not happened.

The Government Gazette published on Tuesday the ministerial decisions that complete the government's measures to combat high prices, with Development Minister Kostas Skrekas commenting that the measures voted in on January 18 have already started to have an effect.

The high prices that worry citizens and the government are not limited to the products on supermarket shelves. They concern a broad range of goods and services, from telecommunications and fuel to the quality of life provided by our municipalities and state.

Development Minister Kostas Skrekas stated on Friday that the government is "supporting healthy competition and protecting consumers" with the amendment passed by Parliament on the transparency of product prices, reducing the price of baby formula, as well as upgrading the e-Katanalotis platform.

A typical supermarket "basket" in Greece may be cheaper compared to other European countries, but it is not cheap, as the difference with other countries is very small, while the difference between incomes in Greece and Europe is often chaotic.