Greece launches National Price Reduction Initiative for essential goods

The National Price Reduction Initiative has launched in Greece, offering discounts on 1,740 essential products to alleviate the impact of the rising cost of living on household incomes. The program, implemented by the Ministry of Development, features an average price reduction of 9.5% across various categories.

Specific discounts include: - Brand-name products: An average reduction of 9% (including retailer contributions), with some items seeing cuts as high as 44%. - Private label products: An average reduction of 8%. - School supplies: 90% of items in this category show reductions exceeding 10%. - Meat and fish: An average reduction of 7%. - Dairy and eggs: An average reduction of 8.7%.

Development Minister Takis Theodorikakos described the initiative as a practical intervention for consumers, noting that the market remains sensitive to international developments and energy prices. The program involves over 100 suppliers and 12 supermarket chains, and will remain in effect until December 31. Consumers can identify participating products via special signage in stores or through the ‘posokanei’ electronic platform.