The Ministry of Development recently published a list of 123 product codes across 23 categories that are part of an initiative aimed at reducing prices. Government spokesperson Pavlos Marinakis stated that by the end of October, approximately 120 product codes would see reductions, with the goal of eventually including over 600 items from various suppliers.

Minister Theodorikakos, speaking to SKAI, defended the initiative, pointing out that inflation in food prices has dropped from 10.4% last year to 3% this year. He added that without the sharp increase in olive oil prices—up by 60%—food inflation would be around 1%. He acknowledged that while some products saw price drops over the summer, others, such as fish, experienced price hikes due to increased demand. “We are fighting on three fronts,” he said, “businesses must act responsibly, the state is conducting inspections, and citizens must shop where it benefits them most.”

However, Lehouritis remains unconvinced, telling Action 24 that focusing on 123 product codes out of a total of 25,000 is insufficient to tackle the broader issue of high prices. “This is just a communication tactic, not a meaningful intervention. If the government doesn’t address price formation from the field to the supermarket shelf, cutting the cost of a few items like toothpaste or toothbrushes means nothing,” he stated.

Lehouritis called for more aggressive regulation, suggesting a cap on profit margins to control price gouging. As an example, he said, a product sold by a producer for 50 cents should not be priced higher than €1.50 on store shelves—a 300% increase that he believes should be the upper limit enforced by the Ministry of Development.

He also disputed the government’s claim that inflation is primarily driven by external factors, asserting that price hikes are largely a domestic problem. “The issue of rising costs is not imported, as the government claims, but is uniquely Greek,” Lehouritis concluded.

______________________________________________

Are you seeking news from Greece presented from a progressive, non-mainstream perspective? Subscribe monthly or annually to support TPP International in delivering independent reporting in English. Don’t let Greek progressive voices fade.

Make sure to reference “TPP International” and your order number as the reason for payment.