Gentlemen’s agreement on price of bread

The Development Ministry is resorting to the tried and tested formula of «gentlemen’s agreements» in order to get the retail prices of commodities such as bread and fresh milk reduced.

Deputy Development Minister Gerasimos Giakoumatos revealed on Wednesday in a radio interview on Vima FM that he had met with representatives of the bakers’ federation to ask them not to go ahead with price hikes, and that they responded they would sell loaves of bread for between 50 and 70 cents.

In a letter the federation sent to its members a week ago it asked them to contain their prices due to the crisis and to ensure that citizens are not deprived of their most basic food staple. A law passed a few months ago providing for the weighing of bread will be enforced from August 1.

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