ECONOMY

Measures planned on high prices

Development Minister Christos Folias said a series of measures will be taken in the next few days to deal with rising prices and to ensure the healthy operation of competition in the market. Speaking to deputies who are members of a parliamentary committee on production and commerce, he also said that the ministry is seriously considering a proposal, made by several deputies who represent constituents in the provinces, to create auction offices for agricultural products. The minister referred to high prices for products, not just in Greece but around the world due to the increased price of commodities such as fuel, as well as cereal and milk due to a rise in consumption in China and India. He added that consumers have to be well-informed to navigate the present market conditions, «rewarding good professionals and punishing whoever is profiteering.» Folias also said that the Competition Commission «is doing all it can» given its structure, and insisted that electricity rate increases have been granted by the ministry so that the energy market can open up to new players and eventually bring prices down. He then stated that the ministry is looking into the alleged phenomenon of multinational supermarkets in Greece selling the same products at higher prices in Greece than in other European countries.