The latest initiative to contain inflation is expected to be unveiled at the end of the month by two associations representing super markets in Greece, with 50 items deemed as essential for households’ survival to be included in a so-called homemaker’s “basket”.
Prices for the specific items will be tracked, with super market representatives promising to “contain increases, to the greatest extent possible.”
The initiative was cited on Wednesday by relevant Development & Investments Minister Adonis Georgiadis.
Greece has been plagued by rising inflation rates over the past several months, usually above the monthly EU average, with the figure in Greece for September 2022 expected to exceed 12 percent. The combination of Russia’s invasion of the Ukraine and its accompanying energy crisis, along with the after-effects of the pandemic-induced disruption on supply chains has sparked an unprecedented inflation surge in the Eurozone.
Georgiadis said he will also meet with producers next week, with the purpose again being to contain rising costs.
He clarified, after meeting with super market representatives, that the initiative does not mean a “freeze” on prices.
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