New Measures to Curb Rising Supermarket Prices

The Greek government is preparing a new set of interventions to tackle inflation, particularly focusing on rising food prices that are heavily contributing to the cost-of-living crisis. The Ministry of Development is working on measures aimed at preventing further price hikes on supermarket shelves. Minister of Development Takis Theodorikakos stated, “We are continuing our efforts with new initiatives, market controls, and upcoming measures targeting a broad range of food and consumer goods to contain living costs.” One of the proposals under discussion is the indefinite extension of a three-month ban on promotional activities if price increases have occurred. Another idea is the reintroduction of a voluntary 5% price reduction on selected products in exchange for better shelf placement for suppliers. The ministry is also closely monitoring the rising prices of veal, which have soared from €11 to €14 per kilo in recent months, with some neighborhood butchers charging over €16. Estimates suggest prices could reach up to €16.50 in the coming weeks. A major cause of this increase is reduced production due to EU environmental policies limiting livestock emissions. Since Greece imports about 80% of its beef, new markets are being explored for cheaper sources. Additionally, concerns are growing over potential coffee price hikes, as global market prices have surged by nearly 40% in the last month alone. Industry leaders warn that without intervention, these increases will soon be reflected on store shelves.