Price Cuts on 1,000 Products Offer Little Relief from Soaring Costs

Greece’s latest government initiative to tackle inflation — a list of 1,000 consumer goods with reduced prices — is being met with skepticism. Despite being promoted as a relief measure, experts say it amounts to a “drop in the ocean” for households already strained by soaring living costs.

The plan, expected to be unveiled around October 15, calls on suppliers and supermarkets to voluntarily reduce prices by 6% to 24% on select items. Products set to be included range from pasta, bread, and dairy to detergents and personal care goods. Yet, key essentials such as meat, fresh fruit, and vegetables — the items most affected by price hikes — are notably missing.

According to Apostolos Raftopoulos, head of Greece’s Consumer Workers’ Union, the absence of these staples undermines the initiative’s impact. “The champions of inflation — beef, coffee, fish, fresh fruit and vegetables — are not included,” he said.

A Nation Struggling to Make Ends Meet

A recent survey by the Athens Chamber of Tradesmen, conducted with research firm MRB, paints a grim picture: six in ten households cannot cover monthly expenses, with incomes lasting only about 20 days. Price increases in food, rent, electricity, and clothing continue to outpace wage growth, forcing many to cut back on basic needs.

Further data from Greece’s Institute of Small Enterprises shows that 72% of citizens have reduced spending on non-essential goods as household and food costs soar. For more than 60% of households, expenses on utilities and groceries have risen sharply in the past year.

Families Turn to Food Programs as Hunger Rises

The cost-of-living crisis is taking a visible toll — especially on children. The Prolepsis Institute, which runs the nationwide “DIATROFI” school food program, has received 1,700 new applications from schools across the country within days, representing around 146,000 students in need of daily meals.

“The numbers are already higher than the total applications we received throughout the entire previous school year,” said Afroditi Veloudaki, the institute’s general director.