Mar 11 • 11:06 UTC 🇬🇷 Greece To Vima

The Government's Measures Against Price Gouging - Watch Live

Greek Prime Minister Kyriakos Mitsotakis announced a three-month cap on profit margins for fuel and supermarket products to combat price gouging exacerbated by the Middle East crisis.

During a meeting with President Konstantinos Tassoulas, Prime Minister Kyriakos Mitsotakis revealed that the government will implement a three-month cap on profit margins for fuel and supermarket products. This initiative aims to prevent price gouging amidst the current economic volatility. Mitsotakis emphasized the importance of vigilance against further consequences that may arise from the ongoing crisis in the Middle East, which has been impacting global markets.

The Prime Minister's announcement comes as the government is preparing additional measures to address price gouging, which has been a significant concern for consumers. The situation has raised alarms as various sectors experience increased pricing due to supply chain disruptions and heightened demand. The government will announce specific actions and details regarding these measures later in the day, indicating a proactive approach to consumer protection and market stabilization.

Prominent members of the government, including Deputy Prime Minister Kostis Hatzidakis and Ministers Stavros Papastavrou and Takis Theodorikakos, are set to elaborate on these measures and outline the government's strategy to counter the inflationary pressures on essential goods. The broader implications of these actions reflect a commitment by the Greek government to safeguard its citizens against exploitative pricing during challenging economic times.

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