Greece to Cut Prices on Hundreds of Products, Including School Supplies, from August 31

Greece is set to introduce significant price reductions on a wide array of products beginning August 31, a move designed to ease the financial burden on consumers. The government and market stakeholders are finalizing a comprehensive list of items that will be included in this price reduction initiative.

Reports indicate that hundreds of product codes have already been submitted by 62 suppliers, encompassing both branded goods and private label items. The goal is to compile a list of approximately 1,500 product codes to ensure the price cuts are widely visible on store shelves. Notably, the initiative will extend to school supplies, such as notebooks, bags, pencil cases, pencils, and pens, providing much-needed relief for families preparing for the new academic year.

Special attention is also being given to the prices of meat products, with suppliers expected to confirm their specific reductions within the current week. The initial price cuts from suppliers are estimated to average between 6.5% and 7%. However, consumers could see reductions as high as 10% on certain items.

This measure is planned to be implemented for a minimum of two months. Following this initial period, there is a provision for renewing the lists or maintaining the existing price reductions until the end of the year, December 31. The initiative reflects a concerted effort to stabilize prices and support household budgets in Greece.