Rising prices are putting businesses to a new test of resilience—just weeks after the Ministry of Development announced a so-called ‘national agreement’ to lower prices. The deal followed a high-level meeting at the Maximos Mansion, chaired by Prime Minister Kyriakos Mitsotakis and attended by representatives from industry and supermarket chains.
Businesses Welcome Action—but Demand Speed
While business leaders and professionals welcome the initiative as a step toward easing price pressures, they are urging immediate implementation—not a wait until September. Their central question is clear: why delay reductions on essential goods when households and small- and medium-sized enterprises (SMEs) face mounting daily strain?
‘No More Two-Month Delays’
Yannis Chatzitheodosiou, President of the Athens Chamber of Commerce and Industry, welcomed the agreement in principle, calling it a move in the right direction—if it delivers real, sharp cuts on staple goods. But he stressed the urgency of timing. ‘The market—and consumers—cannot wait another two months to see results on the shelves,’ he said.
According to Chatzitheodosiou, consensus already exists among government, industry, and retailers on the need to ease price pressures. That shared understanding, he argues, should trigger immediate action. He pointed out that financial pressure on households and SMEs was already severe before recent global uncertainties—including the war in the Middle East—added further strain. Every day of delay, he warned, carries tangible costs: shrinking disposable income for families, rising operational expenses for SMEs, expensive energy, and weakening purchasing power.
He called for policies that not only halt price hikes on essentials and energy but also offer a realistic path to sustainability and growth for small and medium enterprises.
A Broader, Lasting Agreement Needed
Vassilis Korkidis, President of the Piraeus Chamber of Commerce and Industry, echoed this sentiment—emphasizing both the duration and scope of interventions. He stressed that the goal shouldn’t be just temporary consumer protection following the end of the mixed profit margin cap in late June. Instead, he urged authorities to sustain price reductions and expand the current list of 40 product categories and roughly 2,000 SKUs covered under the agreement.
Korkidis argued that tackling inflation cannot rely solely on controls, fines, or state-imposed price ceilings. What’s needed, he said, is a broader national and social pact—bringing together the state, suppliers, industry, wholesale and retail trade—with one shared objective: stabilizing prices and safeguarding citizens’ purchasing power.
‘Businesses know that consumer trust is critical capital for the market,’ he added—especially now, when household incomes remain under pressure.