In the microscope has put the Ministry of Development, already, since yesterday, the first day of their application, the 4 structural measures to address accuracy.

As market players comment to the Athens Agency, government interventions will help to de-escalate inflation in March but in the ministry they check thoroughly and observe the implementation of the measures to ensure that they are effective in the market for the benefit of the consumer.

In the meantime, as market executives comment on APE-MPE, they do not rule out the success of the measure of the 30% reduction of benefits on the tariff in seven non-food categories, leading the ministry to a new decision to extend it later to more categories .

Especially when it comes to in infant milk it seems the ministry is already winning the price ‘bet’ as shelf prices have dropped by 15%. It is recalled, as the minister has said, that the price will approach the European average.

“We have taken a series of measures, which began to be implemented yesterday, March 1st. A series of products, almost 4000 products in the supermarkets, after a drastic measure that we voted in the Parliament, the prices have started to decrease” said on Saturday morning speaking to SKAI, the Minister of Development Kostas Skrekas.

Market players comment that they are waiting to see how quickly the measures will work, however they emphasize that, in addition, what is needed now is for the government to focus its planning on increasing the disposable income of all Greeks.

However, since yesterday consumers based on the decision of the Government to compel suppliers to reduce offers to retail companies by 30% and ultimately to reduce list prices by the same amount, has led – according to the latest figures, to reductions on the shelf for more than 4,000 products.

The categories include general cleaning products (laundry detergents, dish detergents, surface cleaners of all kinds, bleaches) and personal hygiene products (shampoo and conditioner, shower gels, soaps, toothpastes, baby and children’s diapers).

In more detail, the reform has brought about a significant average wholesale price reduction in the seven product categories. Specifically, the average price reduction in baby and children’s diapers is 18.1%, in shampoos, shower gels and conditioners 17%, in toothpastes 15.1%, in laundry detergents 15.6%, in dishwashing detergents 16%, in cleaners of all kinds 15.8% and soaps 12.7%. Price reduction is recorded in 108 different brands.

For the ban on the suppliers of supermarkets that increase the prices of their products, to implement promotional actions on them, for three months – a measure that concerns almost all the products sold in supermarkets, with the exception of fresh products (fruit, vegetables, meat, fish) and some durable consumer goods – according to the Ministry of Development, the measure is already working. According to the ministry’s data, in February, after the implementation of the measure, 890 product codes were revalued, when in the same period last year (February 2023), 3,760 product codes were revalued. That is, already, the implementation of the regulation contributed to the limitation of appreciations by 76% from one year to the next.

Finally, it is estimated that the regulation that obliges the suppliers of fresh products (fruits, vegetables, meat) to sell their products in the retail trade at “net” prices (net – pricing) will also bring a gradual reduction of the prices on the shelf.