Greece Launches Initiative to Lower Food Prices by Up To 20%

The Greek government will implement a National Initiative on August 31 to reduce prices on dozens of essential products by 5% to 20% through December 31, 2026. The initiative follows meetings convened by Prime Minister Kyriakos Mitsotakis and Minister of Development Takis Theodorikakos with industry representatives. The Independent Authority for the Control of the Market and the Protection of the Consumer is coordinating the effort, requesting commitments from business associations like SEV, SEVTE, ESVPE, and the Union of Supermarkets of Greece.

The program focuses on genuine price reductions, not temporary offers or promotions, using August 27, 2026, prices as a baseline. Companies will submit proposed reductions per barcode to the Authority, which will prioritize items like fresh meat, dairy, baby products, and school supplies.

The Authority will publish participating products on the PosoKanei platform and ensure clear in-store signage. The success of the initiative will be measured by the actual financial benefit to Greek households, not simply the number of products included.