Greek government slashes grocery prices by nearly 10% to aid consumers
On August 31, Greece reduced the cost of more than 1,700 grocery and school-supply items by an average of 9.5%, a state-backed initiative aimed at easing household budgets.
A government-sponsored scheme took effect on August 31, lowering the prices of over 1,700 grocery and school-supply items across Greece by roughly 9.5%. Development Minister Takis Theodorikakos described the action as a response to concerns about purchasing power, while Prime Minister Kyriakos Mitsotakis framed it as temporary relief for citizens coping with high living costs and stagnant wages. The price reductions are scheduled to last until the close of 2026 and join earlier subsidies that cut petrol by ten cents per litre and diesel by five cents per litre.
Greece’s economy, still recovering from the long-standing debt crisis, sees annual inflation at 3.3% in July, with food price inflation at 2.7% in June, per Eurostat and the national statistics office Elstat. The government hopes the initiative will ease budget pressures for households ahead of upcoming legislative elections.
Why it matters
Lower grocery costs aim to ease financial strain on Greek families amid persistent inflation and low wage growth.
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