Greek supermarkets to cut prices on more than 900 products from August 31
Greece is expanding a voluntary price-reduction initiative covering branded goods, private-label products and school supplies. Discounts take effect on August 31, while the supermarket industry expects 1,000-1,100 basic branded product codes to participate.
Price reductions to begin on August 31
Greek supermarket chains and food manufacturers will introduce agreed price reductions on August 31 under a national initiative aimed at lowering the cost of basic goods. According to information obtained by the Athens-Macedonian News Agency and reported by Ta Nea, the program already includes 686 branded product codes from 55 companies, 130 school-supply codes and 100 private-label products. That brings the identified total to 916 codes, with more companies and products expected to join.
The initiative is voluntary and was developed through talks involving the government, the food industry, suppliers and organized retail. It began in late June after a meeting chaired by Prime Minister Kyriakos Mitsotakis at the Maximos Mansion. Development Minister Takis Theodorikakos subsequently met industry and retail representatives to agree on the framework. Government and market participants expect additional reductions in food and consumer goods during September and October.
Industry expects broader coverage
Apostolos Petalas, general director of the Hellenic Supermarket Association, told the Athens-Macedonian News Agency that 60-65 manufacturers and large food and consumer-goods companies are expected to participate. He said the average discount could reach 6%-7% and cover 1,000-1,100 basic branded product codes. The final reach would therefore exceed the products already registered in the initiative.
The reductions follow a decline in prices at major supermarket chains in July. The Research Institute of Retail Consumer Goods, IELKA, recorded a 0.47% year-on-year decrease compared with July 2025 and a 0.77% decline from June. Ta Nea said this was the first negative annual reading after seven consecutive months of price increases and the lowest result since December 2024. Petalas expects the easing in food inflation to continue through October.
Lower fresh-food prices offset cost pressure
Petalas attributed the recent decline to several factors. Food producers and retailers refrained from raising prices despite an energy-price surge linked to geopolitical developments that began in February. Industry, supply-chain companies and the government had also agreed in late June that food and consumer-product prices would not increase during July and August. According to Petalas, IELKA’s July data indicate that the agreement was observed.
Fruit and vegetable prices have declined because of favorable weather, while fresh-meat prices have eased as producer and import prices normalized. These categories are now helping reduce inflation after beef, coffee, cocoa and weather-affected produce had contributed to price pressure during the previous 24 months. The outlook remains vulnerable: Petalas said higher energy and petroleum-based packaging costs are squeezing manufacturers and retailers, and warned that prices could rise again in Greece and elsewhere in Europe after October if those pressures do not subside.
