In just two weeks, special labels will appear on supermarket shelves on suppliers’ products, the prices of which have been reduced by at least 5% over six months.
This was stated by the Minister of Development Kostas Skrekas, speaking today on the channel OPEN, emphasizing that market monitoring is daily and strict. In addition, “controls and fines are aimed not at stabilizing prices, but at reducing them.”
Mr. Skrekas reported that a recent meeting with vegetable market wholesalers to reduce prices for fruits and vegetables, and judging by the data collected daily, the efforts are bearing fruit.
“The issue of inflation,” said the minister, “is indeed what worries the Greek family most today. Throughout the previous period, we have made efforts to implement relief measures that appear to be having an effect in curbing price increases. Actually Greece is one of the three countries with the lowest inflation in Europe. In the latest report we see 20 products, fruits and vegetables from Spain cheaper and 13 products more expensive. We are somewhere in the middle of Europe in terms of pricing policy,” the minister said.
Mr Skrekas added: “We will not stop and have already strengthened controls to combat profiteering and the phenomenon of profiteering. We will continue inspections in the next period. Control is exercised at the “root of evil.” The move to limit or reduce manufacturer prices means empty shelves. We go to the dealer, importing company and check the gross profit. Vendor intermediaries will also be subject to fines.”
Regarding the system of imposing and paying fines, he said that some companies have already been subjected to this. The minister noted that after inspection, the company that “speculatively inflated the price” must immediately update the label on the product shelves. Otherwise, in a month, when re-checked, the fine will be increased many times over.
“The fine is twice the profit of the company,” he noted in response to a comment that the fine is usually less than the profit of those who engage in illegal activities.
Answering the question about price of fetathe minister confirmed the importance of control and recalled that the price for goat and sheep milk from the producer reached 1.60 euros, while three years ago it cost 0.90 euros. As for the price of olive oil, he noted: “Today, wholesale prices are about 8-9 euros. Can we purchase and import it for 4-5 euros? No. Olive oil costs 8-9 euros where it is produced. What would happen if we came and said “buy for 3 euros from the manufacturer?” None of them will sell olive oil at that price, it’s simply impossible.
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Greece, among other things, sells the product to Italian and Spanish wholesalers, who are now frantically searching for the oil to fulfill their obligations/orders. Reducing the price of olive oil and leaving Greece without a national product would be catastrophic because consumers would turn to the black market for olive oil.
We go to the person who sells the packaged product and will carefully ensure that he does not receive a single cent more than he invested in the production of oil in 2021. We are already doing this and when we have the results we will announce them.”
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