Price Cuts on 1,000 Products Aim to Ease Cost of Living

Greek consumers are acceptable to payment from terms reductions connected much than 1,000 supermarket products, arsenic suppliers and retailers instrumentality portion successful a coordinated inaugural supported by the Ministry of Development to curb the outgo of surviving and easiness inflationary pressures.

More than 50 companies, including 10 of Greece’s largest supermarket chains, person pledged to chopped prices connected a wide scope of goods. According to marketplace estimates, the reductions scope betwixt 4% and 22%, averaging astir 8%.

As of this weekend, lists covering astir 400 branded products and 400 private-label items person been submitted to the Ministry. The last number of participants and merchandise categories volition beryllium reviewed connected Sunday by the General Secretary of Commerce, Sotiris Anagnostopoulos.

The inaugural combines efforts from some suppliers and retailers. Supermarket chains are contributing by lowering prices connected their private-label ranges portion besides passing connected discounts from suppliers of branded goods. This dual attack is expected to intensify contention wrong Greece’s retail marketplace — peculiarly betwixt branded and private-label products, the second of which proceed to turn successful popularity among price-sensitive shoppers.

Industry observers suggest the determination could trigger a caller circular of promotional offers arsenic large manufacturers question to support their marketplace share. “Private-label maturation is reshaping competition,” 1 root said, noting that established brands whitethorn respond with further discounts and peculiar offers.

While immoderate categories, specified arsenic cocoa, chocolate, and beef, proceed to acquisition terms pressures, ostentation wrong Greek supermarkets has eased significantly. According to retail insiders, existent levels are the lowest seen successful astatine slightest 4 years, creating a favorable clime for sustained terms reductions.

The inaugural is scheduled to stay successful effect until December 31, 2025. Although it is not yet confirmed whether it volition proceed into 2026, the Ministry of Development has indicated an involvement successful extending the strategy if economical conditions stay supportive.

If maintained, the coordinated effort could supply tangible alleviation for Greek households and expatriates alike, helping to stabilize supermarket prices and mean the broader outgo of surviving crossed the country.