Greece’s Independent Authority for Market Control and Consumer Protection has set out the rules for a voluntary price-reduction initiative agreed between the government, industry and supermarket chains, requiring participating companies to include products with strong consumer demand and maintain reduced prices for at least two months.
According to a document sent to market stakeholders, the overall agreement will last through the end of 2026.
Products selected for the initiative must remain at reduced prices for a minimum of two months.
The authority said products with low demand will not be accepted unless companies also propose products with high circulation.
“A basic condition is that each participating company includes in its binding proposals significant high-circulation product codes, with a proposed shelf-price reduction of at least 5%,” the document states.
