Skrekas declares reduced goods prices as ‘permanent’

Speaking on the government’s decision to reduce inflated prices on certain supermarket goods on Friday, Development Minister Kostas Skrekas said that the measure will be permanent and that it tackles a decades-long malaise.

“So far, prices have been reduced on over 3,900 basic products for every household. We’ve already seen the price of baby formula go down by 15%,” Skrekas said while visiting a supermarket.

“The measures we have taken are permanent, comprehensive and aim to set straight decades of market distortions,” the minister continued, saying that the ultimate goal should be to de-escalate price inflation permanently.

Speaking to public broadcaster ERT News, the head of an organization representing small and medium-sized supermarkets, Giannis Pilidis, said that most businesses have already reduced their prices by 5% and some as much as 35%.

There are also companies, Polidis continued, that did not reduce their prices, and as a result cannot offer their products on sale, which by extension leaves their prices high and their items unwanted and unsold.