Skrekas declares reduced goods prices as ‘permanent’

Prime Minister Kyriakos Mitsotakis visited a supermarket on Saturday morning, where he was briefed on the implementation of the Permanent Price Reduction initiative, where more than 868 product codes belonging to 37 categories of goods have now been included, and the ongoing implementation of the Household Basket program. Mitsotakis had the opportunity to talk with employees and customers at the store. The premier was accompanied by Development Minister Kostas Skrekas, who stated that the government's 'goal is to put an end to all misleading tactics for the benefit of households and healthy competition. The aim is to have clear and substantial offers.'

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%.

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