Greek minister Takis Theodorikakos seeks food price cuts, profit‑margin cap extension

Development Minister Takis Theodorikakos told radio listeners that the government is negotiating with food manufacturers and supermarket chains to achieve price reductions on widely used household products. He said the aim is to reach an agreement; if it is not secured promptly, the profit‑margin ceiling (price cap) will be extended for an additional two months beyond the current deadline of 30 June.

The cap was reinstated as a response to strong inflationary pressure stemming from the war in the Middle East. According to the Independent Market Control Authority, since the cap’s introduction price increases have fallen fifty‑fold while price cuts have risen sixty‑seven‑fold across hundreds of items. The minister also emphasized that fines for violations are being collected in full and that strict inspections are ongoing.

Beyond the price‑policy discussion, Theodorikakos highlighted broader economic measures, including the commitment to raise the minimum wage to €950 by the end of the four‑year plan and steps to support businesses so they can offer higher wages.