Greece launches second phase of National Price Reduction Initiative

The second phase of the National Price Reduction Initiative in Greece is underway, targeting the November-December 2026 period. The Independent Authority for Market Regulation and Consumer Protection has begun registering new participations to maintain price reductions on essential consumer goods.

As of the current reporting, 387 product codes have been declared for this phase, consisting of 353 branded products and 34 private-label items. The Authority is intensifying communications with retailers and market stakeholders to encourage further participation and ensure the continuity of existing price drops.

The initiative follows a successful first phase that began on August 31, which included 1,740 products—such as branded goods, private labels, school supplies, and meat—resulting in an average price reduction of 9.5%. This initial phase provided an estimated benefit of approximately 40 euros per shopping basket. While the initiative extends through the end of 2026, participation remains voluntary, and businesses may choose to update, replace, or withdraw specific product codes at the end of each period. Notably, school supplies will not be included in this second phase.