A profit cap imposed on dozens of key consumer goods amid the war in the Persian Gulf will not be renewed when it expires Tuesday, but manufacturers and retailers have agreed not to increase shelf prices for the next two months, officials said.
The decisions followed a meeting under Prime Minister Kyriakos Mitsotakis in Athens Monday, with the participation of government officials and representatives of manufacturers, food wholesalers and supermarkets.
Development Minister Takis Theodorikakos said the conservative government sees the high cost of living as a major policy priority.
“The end of the war in the Middle East is leading to a normalisation of fuel prices and therefore to a reduction in the international inflationary pressure observed over the past few months,” Theodorikakos said after the talks.
He said Monday’s meeting saw “a joint understanding on the need for this reduction to be reflected in retail prices, initially during the two summer months, with a complete stabilisation of prices and no increases whatever.”
