Greece expands price cuts to more than 1,660 products
Greece is expanding its National Price Reduction Initiative to more than 1,660 product lines, with participating suppliers offering average price cuts of about 7%, Development Minister Takis Theodorikakos said.
The expanded initiative takes effect Monday, Aug. 31, and covers essential food and household products, school supplies, private-label goods and meat.
Theodorikakos said the measure is intended to provide support to households and help contain the cost of essential goods.
Branded goods lead participation
About 900 branded product lines are currently included, with price reductions ranging from 5% to 30% and averaging about 7%, according to the latest available data.
More than 450 school-supply products are recording average reductions of around 10%, while about 250 private-label products have prices reduced by an average of 7%.
The meat category includes 60 product lines, with an average reduction of 7.2%. It covers both Greek and imported meat, including beef.
More participants expected
More than 90 suppliers, 12 supermarket chains and three toy and school-supply chains have so far joined the initiative.
The scheme remains open to additional participants, and authorities expect the number of products covered to increase further.
The government is presenting the expanded measure as part of efforts to reduce the cost of everyday goods and provide relief to households facing continued pressure from living expenses.
