Price Cuts on 1,000 Products Aim to Ease Cost of Living

Greek consumers are set to benefit from price reductions on more than 1,000 supermarket products, as suppliers and retailers take part in a coordinated initiative supported by the Ministry of Development to curb the cost of living and ease inflationary pressures.

More than 50 companies, including 10 of Greece’s largest supermarket chains, have pledged to cut prices on a wide range of goods. According to market estimates, the reductions range between 4% and 22%, averaging around 8%.

As of this weekend, lists covering about 400 branded products and 400 private-label items have been submitted to the Ministry. The final count of participants and product categories will be reviewed on Sunday by the General Secretary of Commerce, Sotiris Anagnostopoulos.

The initiative combines efforts from both suppliers and retailers. Supermarket chains are contributing by lowering prices on their private-label ranges while also passing on discounts from suppliers of branded goods. This dual approach is expected to intensify competition within Greece’s retail market — particularly between branded and private-label products, the latter of which continue to grow in popularity among price-sensitive shoppers.

Industry observers suggest the move could trigger a new round of promotional offers as major manufacturers seek to protect their market share. “Private-label growth is reshaping competition,” one source said, noting that established brands may respond with additional discounts and special offers.

While some categories, such as cocoa, chocolate, and beef, continue to experience price pressures, inflation within Greek supermarkets has eased significantly. According to retail insiders, current levels are the lowest seen in at least four years, creating a favorable climate for sustained price reductions.

The initiative is scheduled to remain in effect until December 31, 2025. Although it is not yet confirmed whether it will continue into 2026, the Ministry of Development has indicated an interest in extending the scheme if economic conditions remain supportive.

If maintained, the coordinated effort could provide tangible relief for Greek households and expatriates alike, helping to stabilize supermarket prices and moderate the broader cost of living across the country.