Greek Development Minister Takis Theodorikakos announced on Tuesday that hundreds of supermarket products across Greece will be sold at lower prices starting Monday, August 31.
The price cuts are part of the government's National Price Reduction Initiative, which will remain in place through the upcoming holiday season to help consumers facing high living costs.
Speaking on the Greek television channel SKAI on Tuesday morning, Theodorikakos said the total number of participating products is expected to surpass 1,500 items. Prices on essential food products will drop by at least 5 percent, with discounts on some goods expected to be even higher.
Essential household items covered
The initiative covers basic daily necessities, ranging from essential food items to cleaning supplies, home maintenance products, and general household goods. Theodorikakos described the effort as a national social agreement intended to provide direct relief to Greek households from price pressures.
According to the minister, the price cuts are the result of direct cooperation between the Ministry of Development and retail market operators.
Role of the Ministry of Development
The Ministry of Development is the Hellenic Republic's cabinet department responsible for trade supervision, market regulation, and consumer protection. Theodorikakos, a veteran Greek politician who previously served as Minister of Interior and Minister of Citizen Protection, assumed the development portfolio to lead market regulation efforts.
SKAI TV is a prominent national news network based in Athens, regularly broadcasting major government policy announcements. Greek authorities have continually monitored retail food pricing across commercial supermarket chains to safeguard consumer purchasing power.
