Gov’t unveils new measures to combat soaring prices
The announcement of a price cap on the profit margin of baby formula was made by Prime Minister Kyriakos Mitsotakis during a statement from the Maximos Mansion on Wednesday morning, following a government meeting to discuss measures aimed at combating inflation.
Additionally, interventions were unveiled concerning the net prices of essential goods, with restrictions on supplier discounts set at 30%, and the resulting benefit being passed on to the consumer. This applies to commonly used products such as toothpaste, household cleaners, baby diapers, and fresh produce.
“Greece is not a banana republic, and ‘greedflation’ cannot be tolerated,” he said, referring to the notion that corporations have exploited inflation to generate excessive profits..
Mitsotakis commended the efforts of the interdepartmental market control unit, DIMEA, in keeping prices in check. “The latest measures aim to address long-standing distortions that have become more pronounced due to the imported inflation crisis,” he added.
A detailed presentation of the interventions will be delivered by Development Minister Kostas Skrekas at noon.
