Greece’s government says a new campaign to cut supermarket prices is providing relief to households squeezed by the cost of living. A closer examination of what shoppers actually paid before the initiative, however, shows that many of the advertised discounts followed steep price increases—and left consumers paying considerably more than they did in July.
An analysis by Dnews.gr of 30 everyday products included in government price-reduction lists found that most still cost more than their earliest recorded price in July or early August. In some cases, the difference exceeds 20%. For one product, the increase approaches 34%.
The discrepancy highlights a familiar problem with percentage discounts: The result depends heavily on the starting point.
Under Greece’s National Price Reduction Initiative, the government has publicized discounts ranging from 5% to more than 30%. Those reductions can be accurate when measured against the price immediately preceding the cut. But historical supermarket data show that some of those earlier prices had themselves risen substantially during the preceding weeks.
For shoppers, that produces a very different calculation.
The initiative took center stage on July 8, when Development Minister Takis Theodorikakos met representatives of Greece’s supermarket chains and consumer-goods industry as the government sought additional measures to ease pressure on household budgets.
Yet between early July and the end of August, several products subsequently included in the initiative underwent significant price increases before their new, lower prices were announced.
Garnier Fructis Strength & Shine shampoo offers the most striking example among the products reviewed. The government lists a price reduction of as much as 30%. A 400-milliliter bottle sold for €2.43 at one supermarket on July 8. By Aug. 30, the same retailer was charging €3.54. Its newly announced price is €3.25.
That is a reduction from the August price, but the shampoo is still 33.7% more expensive than it was in July.
Olympos natural orange juice followed a similar trajectory. A 1.5-liter bottle cost €3.14 on July 10, climbed to €4.50 by Aug. 28 and is now priced at €4.05. The government cites a reduction of as much as 11%, yet the current price remains 29% above the July level.
Mimikos chicken-fillet nuggets rose from €5.59 on July 8 to €7.08 by Aug. 29. The latest price cited is still €7.08, leaving shoppers paying 26.7% more than in July despite the product appearing on a list that advertises reductions of as much as 5%.
Olympos Freelact lactose-free milk rose from €2.05 a liter in early July to €2.73 in late August before falling to €2.57. The reduction leaves the product 25.4% more expensive than its earlier price.
Babybel Classic Mini cheese remains 25.2% above its July level, while Nounou evaporated milk is 21.3% more expensive.
Arkadi laundry detergent shows how large price swings can make a headline discount look particularly impressive. A 1.45-liter bottle cost €5.23 on July 30 before jumping to €9.50 by Aug. 29. The new price is €6.40, corresponding to a substantial reduction from the peak. Yet consumers are still paying 22.4% more than they were a month earlier.
The pattern extends across a range of household purchases. Illy coffee capsules remain 20.2% above their July price. Papadopoulou whole-wheat rusks are 17% higher, Milko chocolate milk is up 16.8%, Nivea Men shaving foam is 16% more expensive and Ben’s Original brown rice remains about 14.6% above its July level.
The analysis is based on historical records available through “Poso Kanei,” or “How Much Does It Cost,” a Greek price-monitoring platform that allows changes in supermarket prices to be tracked over time.
The data don’t establish that the government’s advertised reductions are inaccurate. They show something more subtle: A discount from a recent peak isn’t necessarily a reduction in what consumers were paying before the initiative began.
That distinction could increase scrutiny of both retailers and Greece’s market regulators. It raises questions about what happened to prices in the weeks preceding the reductions and whether those increases were adequately examined by the authorities responsible for market supervision and consumer protection.
