Development Ministry places four measures to combat high prices under the microscope

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The Development Ministry has already placed the four structural measures to deal with high super market prices under the microscope, since the first day of their implementation on Friday.

Market representatives stated to the Athens-Macedonian News Agency (ANA-MPA) that government interventions will help to de-escalate inflation in March, while the ministry is meticulously checking and observing the implementation of the measures to ensure that they affect the market to the benefit of the consumer.

In the meantime, as market officials commented to ANA-MPA, they do not rule out that the success of the measure which provides for a 30% reduction in seven non-food categories, will likely lead the ministry to the decision to extend it to more categories.

However, Development Minister Kostas Skrekas stated: “We will not stop our effort…” while recently he has underlined that: “if necessary we will take additional measures for categories of products whose prices in Greece are unreasonably higher.”

Especially with regard to baby formula, it seems that the ministry is already winning the price “bet” as prices on the shelf have dropped by 15%. It is recalled, as the minister has said, that the price will approach the European average.

“The prices have dropped in 3,900 basic goods for every household so far. We have already checked that the prices of baby formula have dropped by 15 pct. We will not stop our efforts,” Development Minister Kostas Skrekas noted during his visit to a major supermarket chain on Friday, the first day of the implementation of four government structural reforms to tackle the high cost of living.

Specifically, the minister said “the measures we assumed are permanent, structural and aim to correct longstanding structural distortions in the market. Our target is to support all the citizens against the major problem of price increases and be led to a permanent easing of inflation.”

Source: ANA-MPA