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Government heralds price reductions in hundreds of products but not in food

Prime Minister Kyriakos Mitsotakis heralded price reductions in 1,500 products as tomorrow,  March 1. A little later, Development Minister spoke of 3,000 products. Consumers remain cautious saying they have heard such announcements before but did not see them on supermarket shelves.

Speaking at the cabinet meeting on Thursday the Premier noted that “ongoing action had been taken in recent months to help lower prices at retail level, against persistent inflation, especially for certain types of products.

He underlined that the results of the measures will gradually become apparent as they were “deep structural interventions in the way the market operates.”

He heralded “the initial messages are encouraging and we hope that the initial prices for more than 1,500 products will be lower from early March, while the final prices will be determined on the basis of these initial prices.”

Soon after the PM’s generalized announcements on an issue that torments large parts of the Greek society,  explanatory reports were distributed by the Development Ministry, trying to explain the unexplainable.

According to the Ministry, “the implementation of the government’s four new drastic measures to tackle high prices and stimulate healthy competition throughout the supply chain begins on Friday 1 March.”

Greece is taking targeted measures that are for the first time being applied at European level against punctuality, according to an announcement by the Ministry of Development. The structural interventions as specified by the Minister of Development, Kostas Skrekas, demonstrate the determination of the Government to implement practical measures that reform the structure of the retail market and correct distorted commercial practices.

The main purpose of all relevant government initiatives is the permanent de-escalation of inflation in supermarket products for the benefit of the consumer, the Ministry added.

Citing the ministry’s press release, media report “The four new government measures:

Reducing supplier discounts to supermarkets and transferring the benefit to the consumer by reducing list prices

The Government’s decision to proceed with the reform obliging suppliers to reduce by 30% the offers to retail companies, with the obligation to reduce the price list prices by the same amount, led to reductions in more than 3,000 products (1,500 had reached the Ministry by start time of the Council of Ministers).

The categories include general cleaning products (laundry detergents, dish detergents, surface cleaners of all kinds, bleaches) and personal hygiene products (shampoo and conditioner, shower gels, soaps, toothpastes, baby and children’s diapers).

The reform has resulted in a significant average wholesale price reduction across the seven product categories.

Specifically, the average price reduction in baby and children’s diapers is 18.1%, in shampoos, shower gels and conditioners 17%, in toothpastes 15.1%, in laundry detergents 15.6%, in dish-washing detergents 16%, in cleaners of all kinds 15.8% and soaps 12.7%.

The average price reduction affects 108 different brands, the ministry stressed.

Sadly, it forgot to mention the price increase percentage of these brands throughout 2023.

Apart from the “30% obligation for reduction” no other measure was reported in the Development Ministry new “Bible”.

  • Did the Ministry forget to mention the other three measures?
  • Was the report/announcement much too long for media websites?
  • Am I too stupid to understand the government vision?

Main thing is, however, that the Ministry did not forget to stress:

“Greece is taking targeted measures that are for the first time being applied at European level against high prices. The structural interventions as specified by the Minister of Development, Kostas Skrekas, demonstrate the determination of the Government to implement practical measures that reform the structure of the retail market and correct distorted commercial practices.

The main purpose of all relevant government initiatives is the permanent de-escalation of inflation in supermarket products for the benefit of the consumer.”

Consumers are cautious and do not share the government’s enthusiasm. One woman told ANT1 TV “let’s see first if there are indeed reductions at the supermarkets shelves as we hear of reductions much too often but we don’t see them.” Another one complained “the price reductions are only for a specific category of products, when prices in meat, milk, cheese, oil and other food products that are essential remain high.”

PS It is sad too that KTG hardly uses one or two of these 108 brands affected by the 30% reduction obligation which is not 30% for all products but it varies and the issue becomes much too complicated for the intellectual capacity of an average citizen like me…

Don’t even dare asking why the PM said 1,500 products and the minister over 3,000. You think, they know? they don’t. As they don’t know how much prices in these affected products were up in the last two years.
And when I think that for over two years I was paying 9.80 euros for 500 gr of the average Jacobs filter coffee… practically with no excuse for the high price.One package per two weeks. After the government fined Jacobs for “overpricing” a month ago, the price dropped to €7.80.
And yes, I get angry, because greedy industrialists think I have a euro-printing machine at home all these 14 years since the economic crisis of 2010.

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2 comments

  1. Their generosity is overwhelming! 🤣
    Meanwhile in the U.K.
    The boss of Kellogg’s has been criticised for suggesting poor people should eat cereal for dinner to save money.2 days ago!! 😳

  2. “Let them eat soap”.

    Because when food is expensive, people will eat other things? This is how revolutions start.

    Anyway, come to Serbia. We pay almost 10 euro for 200 grams of Jacob’s coffee…

    PS is that you taking a bath? 😉