The measures and interventions to control market prices are extended until 31.12.2024, according to an announcement by the Ministry of Development.

At the same time, the fine for violation of the provisions of the ceiling is increased fivefold and the fine for violation of the provisions on the prohibition of promotional actions is tripled.

The new provisions

With an amendment by the Minister of Development, Takis Theodorikakos, the following provisions are forwarded to the Parliament for a vote.

• The time of application of the profit margin ceiling is extended until 31.12.2024. The ceiling is the gross profit margin that each company earned from the sale of each basic product before 31.12.2021 (closed year 2021).

• The application of the provision is extended to control the profit margin in the program “I recycle – I change a water heater». Due to the vouchers offered to the beneficiaries, there is the possibility that some companies participating in the program will increase the prices they request for the supply and installation of a new water heater, taking advantage of the increase in demand caused by the issuance of the limited-time vouchers.

• The maximum fine for breaching the ceiling provisions is quintupled from €1,000,000 to €5,000,000.

• It triples the maximum fine for violation of the provisions on the prohibition of promotional actions when a revaluation has preceded and increases from 2,000,000 to 6,000,000 euro.

• Extends «the household basket» until the 31.12.2024.

• The obligation to announce revaluations of suppliers by supermarkets to the Ministry of Development is extended until 31.12.2024.

• The obligation to announce indicative prices of fruit and vegetable products from supermarkets to the Ministry of Development is extended until 31.12.2024.

• Its limitation ceiling in the baby milk is set until 31.12.2024.