New measures to tackle rising prices

08:24 28/6/2024 - Πηγή: iEfimerida

Greece’s centre-right government is set to implement new measures aimed at addressing inflation, moving to support consumers anew, mainly the most vulnerable, authorities have announced.

They said measures will target the "core" of inflation, focusing on 100 essential consumer goods. The measures extend beyond just regulating final retail

prices, focusing instead across the entire supply chain, from production to consumption to crack down on price gauging.

Basic food items such as milk, yogurt, olive oil, rice, pasta, cheese, fresh meats, fruits, vegetables, and bread will be closely monitored.

As part of the effort, authorities said the the Hellenic Competition Commission (DIMEA) will receive additional resources, including 30 new staff members starting from July 1.

DIMEA will intensify its controls to detect and combat any case of profiterring.

Supermarket chains are already required to submit invoices from suppliers, along with prices at which they sell key goods. The comprehensive checks will aim to cover the entire spectrum of the supply chain, ensuring transparency and fairness.

The reviews will focus on pricing practices from primary producers to intermediaries, curbing excessive profits.

Greece’s inflation rate declined from 3.2% in April to 2.4% in May, while supermarket prices decreased by 1.25% compared to May 2023, according to a study by the Hellenic Statistical Authority (IELKA).

Despite the declining trend, certain food categories, such as eggs and butter, have seen reductions exceeding 7 percent.

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