In an interview with ERTNews on July 2, 2025, Sotiris Anagnostopoulos, Greece’s General Secretary of Trade and Consumer Protection, discussed the end of profit margin caps in supermarkets and fuel stations as of Tuesday, July 1. He acknowledged concerns that this move could lead to rising prices. On June’s inflation rise, he noted that a normal economic growth rate is close to 2%, which aligns with the European Union’s target for the Eurozone.
Anagnostopoulos explained that price increases in services stem from two main factors: increased summer tourism demand and prior wage hikes that raise service costs. He emphasized that Greece is very close to the 2% inflation target, especially regarding food and basic consumer goods, placing Greece among the lowest in the EU — third lowest in the Eurozone alongside France and Cyprus.
Regarding the removal of the price cap, he stated that while concerns are understandable, maintaining permanent price controls is not viable. He reminded viewers that Greece had maintained these caps during a period of high inflation reaching 14-15%, far above current levels. However, he stressed that long-term price caps harm both consumers and businesses and are not a common practice in developed nations.
He also highlighted significant progress made in recent years, attributing Greece’s better-than-average inflation performance to increasing market competition. Despite improvements, he acknowledged there is still much work to be done. The key challenge ahead, he said, is fostering more competitive economies and open markets so that consumers benefit from more choices and lower prices driven by competition rather than regulation.