Greek retail price inflation hits lowest level since December 2024

Sources at the Ministry of Development of Greece view data from the Consumer Goods Retail Research Institute (IELKA) showing that inflation in supermarket prices stood at -0.47% in July as evidence that the joint effort by the government and the market to contain and gradually reduce prices of essential consumer goods is delivering results.

The same sources note that this is the lowest reading recorded since December 2024 and, in their assessment, confirms that the common understanding reached between the government and business representatives is producing results.

The agreement initially provides for a price freeze during July and August, followed by price reductions in key product categories, CE Report quotes ANA-MPA.

According to the ministry sources, the national initiative to reduce prices on essential goods is now fully underway and will be implemented from 31 August, with the voluntary participation of supermarket chains and the food industry.

The sources also note that the initiative was launched in late June following a meeting chaired by Prime Minister Kyriakos Mitsotakis at the Maximos Mansion.

This was followed by a second meeting chaired by Development Minister Takis Theodorikakos, attended by representatives of the food industry, suppliers and organised retail, at which the framework for the measures was agreed.

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