Greek Prime Minister Kyriakos Mitsotakis on Tuesday visited a supermarket in central Athens, accompanied by Development Minister Kostas Skrekas, to determine whether the recent measures taken to counteract the high cost of living and reduce retail prices have started to work, ANA reports.
He particularly focused on the case of infant formula, where he noted the government’s cap on profit margins has led to “price reductions between 15% and 20%,” while adding that the government’s efforts will continue.
The prime minister was briefed on the progress in the implementation of four structural measures against price increases that went into effect on March 1, as well as their combined effect alongside other government actions, such as ‘permanent price reduction’.
He then spoke with the management of the supermarket regarding a decline in the initial prices of 4,000-plus basic goods recently observed in supplier price lists and how this impacts the final prices for consumers on supermarket shelves.
After the visit, Mitsotakis made the following statement:
“We had an opportunity today, with the minister, to visit a supermarket in the center of Athens to ascertain in practice the efficacy of the recent measures legislated by the government regarding the reduction of prices for a series of product codes, roughly 4,000 consumer goods, detergents. The citizens can already see lower prices on the shelf. We have not beaten the problem of high prices. It is an ongoing battle, as we have said many times, but I believe that it is an important step, a structural step, that concerns the operation of the market itself, which will ultimately have the anticipated result – we hope – with reduced prices for consumers for a series of important products. I would particularly single out infant formula, a product that has concerned us a lot. With the action we took, effectively regulating the profit margin, we see reductions that are between 15% and 20%. Significant reductions, especially for young parents, as prices had recently truly gotten out of control. And the effort is continuing.”
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Source: tornosnews.gr/en/