“In many categories of the products that have been announced for a permanent price reduction, the discount is more than 5%. In flours, the discount is more than 5%, it is 10%. The new prices announced by the suppliers to the Ministry of Development are 10% lower than the prices before September 19. 5% is the minimum price reduction. Many companies choose to have a bigger price reduction,” Development Minister Kostas Skrekas said to SKAI and the show “Kalimera” with Giorgos Autias.

For the products participating in the “permanent price reduction”, the Minister of Development emphasized that “the goal was to have 500 products. Already yesterday we surpassed 740 products from 63 companies and in 50 different categories. Our goal is to reach 1000 different products. We encourage consumers to take advantage of the household basket and the permanent price reduction initiative because” – as Mr. Skrekas pointed out – “stimulates competition and drives down prices”

“Obviously, the biggest problem facing households today is accuracy. We recognize the problem, the tragedy of the situation and that is why we are exhausting the entire legal arsenal we have. We are willing to create new weapons to fight the monster of precision”

When asked how the phenomena of speculation will be limited, Mr. Skrekas replied: “With controls for filthy lucre. Greece is the only country, which has passed a law in the Hellenic Parliament, has put a ceiling on the profit margin of the companies, where the profit margin cannot exceed the profit margin that the company had in 2021, before the accuracy starts. If he is going to make more profit today that there is this explosive situation for households. Greece is the first country to impose fines on multinational companies. And we will put again if we see that they are making a profit compared to 2021” noting that “we are planning a legislative regulation with which we will achieve permanently low prices on the shelf”.