As of today (July 1, 2025), the cap on gross margins imposed on essential goods and fuels five years ago—specifically on December 31, 2021—is no longer in effect. The measure had been introduced to curb inflation and address the energy crisis intensified by the aftermath of the Covid-19 pandemic. The removal of the cap marks a return to a more ‘pure’ free-market model, where businesses can now set their profit margins without administrative restrictions.
Apostolos Petalas, General Director of the Supermarkets Union, emphasized that the abolished profit cap on food, basic necessities, and fuels ‘created more problems than it solved.’ Speaking to ERTNews, he noted that prices remain stable for 60 products but are rising in three specific categories: chocolate and sugar products due to cocoa shortages; seasonal fresh fruits with notably high prices in some categories; and veal meat, influenced by Dutch and Swiss export demand amid declining livestock numbers due to green transition policies.
Petalas acknowledged that the price cap was justified during the pandemic when factories closed, transport halted, and issues of profiteering emerged. He also highlighted that Greece currently has one of the lowest inflation rates compared to the EU average, a trend expected to continue into June.
In addition, the General Director pointed out that under the new EU-wide Price Reduction Code of Conduct effective since March, stores must display the lowest price of an item over the past 30 days alongside promotional offers.
Since June, the Ministry has requested data from the ten largest supermarket chains and major suppliers regarding prices, stocks, and sales of hundreds of products for May, to ensure compliance with the cap until its final day. Although the original deadline for submission was June 20, an extension was granted until July 15. These data will help identify any violations and assess potential future interventions if unjustified price hikes are detected.
Meanwhile, George Asmatoglou, former president of the Panhellenic Federation of Fuel Station Owners, assured that with theft and fuel adulteration addressed, the market is balanced and stations will sell at lower prices—except in island regions where higher-priced fuel was purchased earlier this month. He added that the average price has dropped to levels seen before the Israel-Iran conflict and expects prices to remain low through August. He also stated that the cap caused zero profitability, leading to station closures.