A store of a large supermarket chain in Maroussi, was visited today, Friday, by the Minister of Development, Kostas Skrekas, in order to monitor the course of the “Permanent Price Reduction” initiative, but also the “Household Basket”.

The Minister was informed about the implementation of the measure, in which more and more businesses are participating, about the course of prices for basic necessities, but also about the response from consumers.

Mr. Skrekas talked to the employees of the store, saw the places where the initiative’s signs have been placed and discussed about increasing the mobility of the specific codes.

The minister was also at the special stand with the “Household Basket” in order to further improve its appearance.

Regarding the product labels for the “Permanent Price Reduction” initiative, he emphasized that it is an action of the government to stimulate competition and start to lower shelf prices to the benefit of households.

“This initiative means that the products that have been marked with the special label must reduce their price on the shelf by at least 5% and for at least six consecutive months. We are already noticing it here the store labels on 100 different products. So far, 428 different products from suppliers participating in the ‘Permanent Price Reduction’ have been notified to the Ministry of Development.


As Mr. Skrekas explained, the chains have a period of 15-20 days from the moment the product is notified to the Ministry of Development, until they place it on the shelf. Some companies continue to have promotional packages and additionally have reduced the price by 5% on the shelf. We have seen some other products participate in both the Household Basket and the ‘Permanent Price Reduction’.

“Greece is the first to apply at European level these initiatives. We notice that they are starting to contribute to a gradual reduction in prices and thus households that are struggling a lot are starting to have access to basic consumer goods,” he noted.

“On Thursday we imposed fines on two multinational companies, which after checks by DIMEA were found to have product codes with a higher profit in 2023 than in 2021, before the accuracy began. The decision of our government is clear and irrevocable. Those who break the law on unfair profiteering will pay dearly. The controls will not stop and will continue,” the Minister of Development emphasized.