Greek Development Minister Takis Theodorikakos announced the end of the profit margin cap on essential consumer goods, following a high-level meeting on inflation held at the Maximos Mansion under Prime Minister Kyriakos Mitsotakis. The meeting brought together government officials and key industry representatives to address rising living costs.
Two-Month Price Freeze Agreed
In a closed-door session aimed at curbing inflation, the government and food industry agreed to freeze retail prices for two months. The move is intended to stabilize costs for consumers during the peak summer period.
Key Attendees
Government participants included Deputy Prime Minister Kostis Hatzidakis, Development Minister Takis Theodorikakos, and Despina Tsaggaris, Director of the Independent Authority for Consumer Protection. Industry representatives included Spyros Theodoropoulos, President of the Hellenic Federation of Enterprises (SEV); Giannis Giotis, President of the Hellenic Food Industries Association; and Apostolos Petalas, General Director of the Hellenic Supermarket Association.
Minister’s Statement
Speaking after the meeting, Minister Theodorikakos said: “The end of the war in the Middle East has led to stabilization in oil prices and, consequently, a reduction in global inflationary pressures. During our discussions with food industry and supermarket representatives, there was broad consensus that this easing should be passed on to consumers — starting with a price freeze across all products for the next two summer months, with absolutely no new price increases.”
He added: “I want to emphasize that this also applies to the 2,000 product codes whose prices were reduced by 6% over recent months due to the previously imposed profit cap. Those reductions will remain in place throughout the summer.”