Greece Nears Deal to Cut 2,000 Essential Product Prices as Profit Cap Faces June 30 Expiry
Updated
Updated · en.protothema.gr · Jun 29
Greece Nears Deal to Cut 2,000 Essential Product Prices as Profit Cap Faces June 30 Expiry
3 articles · Updated · en.protothema.gr · Jun 29
Summary
Advanced talks between the Greek government and business groups could yield an initial agreement today to lower prices on essential household goods, with officials pressing for cuts to reach shoppers as early as July.
About 2,000 key product codes already reduced under the profit-cap regime could have those lower prices locked in through July and August, even if the cap is lifted at the end of June.
From Sept. 1, the emerging plan calls for a broader repricing and a list of widely consumed products with noticeable cuts lasting at least four months, through Dec. 31.
The government wants relief from food inflation that is eroding wage gains, while retailers and producers want the profit-margin cap removed, creating room for a compromise built around voluntary reductions.