Market controls on prices are expanding – 20 companies in the “target” and a new cycle for “Price Reduction”

The message that controls on the market to maintain the ceiling on gross profit margins will continue is sent by the Ministry of Development, with the competent agencies are currently considering more than 20 companies in totalsix of which are multinationals with consumer products in the Greek market.

It is very possible within the next few days to announce new fineswhich, as happened last time, are expected to be accompanied by the announcement of the names of the companies that “break” the ceiling, since of course the amount of the fine exceeds 50,000 euros.

After all, the main objective of the controls is not simply to impose a fine, but to lead each company to reduce the prices on the supermarket shelves, and in this context, the publication of the names can act as another lever of pressure.

Meanwhile from next Monday, the checks of the Interagency Market Control Unit (DIMEA) also begin in supermarket stores to see if they have put up the ‘permanent price reduction’ tags for products that have been reduced in price by at least 5%.

Products which have been declared to the Ministry of Development, as part of the “permanent price reduction” initiative, they approach 700. These are mainly food, detergents, cleaners, personal care products, etc.

Especially for the price reduction, the Ministry of Development also gives consumers the role of “auditor” preparing a special application on the “e-katanalotis” platform, through which every citizen will be able to send complaints on the spot from the mobile phone, which will be examined by the services of the Ministry of Internal Affairs.

Appeals and offers on the shelves

In the meantime, the two multinational companies that were fined 2 million euros last week prepare appeals. According to information, the main disagreement is found in the way in which the profit margin is controlled, while market executives also express the reasoning that the ceiling is an arrangement that cannot last for almost two years.

On the other hand, sources from the Ministry of Development report that especially now regulation of profit margins is imperativeas the prices of raw materials worldwide are falling from the very high levels of the last few months, while the trend of energy prices is also generally downward.

However, the offers continue on the supermarket shelves, as according to the research company Circan, nearly 23% of August brand name sales by value were on offer, a percentage that a year ago was 19.9%. The largest percentage of promotional sales is recorded in frozen foods, followed by personal care and beauty products.