Prime Minister Kyriakos Mitsotakis announced the imposition of a ceiling on the gross profit margin for baby formula, as well as the adoption of measures “to deal with the chronic distortions in the market” during the meeting on the new government initiatives against high prices.
In his statement, the Prime Minister emphasized that the battle against high super market prices “is an ongoing battle and we are constantly using new policy tools until everyone, especially the multinationals, understand that Greece is not a country without rules and the so-called greedflation cannot be tolerated.”
“The new measures that will be specified by the Development Minister aim to deal with chronic distortions that have accumulated for many years in the market and have become more intense as a result of the imported inflationary crisis. Moreover, many products of multinational companies are sold more expensively in Greece than in other European countries and this is something that we cannot tolerate any more,” he stressed.
“Our interventions primarily target net prices, limiting suppliers discounts by 30% and correspondingly transferring the benefit to the consumer. They concern products of wide use, such as household cleaners, shower gels, shampoos, toothpastes, baby diapers, fruit and vegetables,” the prime minister explained.
According to the Prime Minister, special provision “will also exist for baby formula which is sold more expensively in Greece than in other countries and this is completely unjustified.” Therefore, a ceiling will be imposed on the gross profit margin so that prices can be adjusted at reasonable levels.
“These measures aim to correct distorted commercial practices and our main priority remains the protection of the consumer and the orderly functioning of the market,” he underlined.
