Ministry of Commerce sees no justification for price caps on food and fuel

Aliki Iordanou, head of the Competition Division at the Ministry of Commerce, stated on Monday that there is no justification for imposing price caps on food and fuel. According to data for March 2026, 33 out of 45 basic product categories saw price increases compared to February, while 12 categories recorded decreases. Among these, 8 categories showed price drops compared to the previous year. Iordanou attributed the inflation rate of 1.2%, the second lowest in the European Union, to market restraint by suppliers and supermarkets. The official highlighted the role of the 'e-kalathi' electronic platform in promoting price transparency and consumer-driven competition. She explained that legal price caps are only implemented when domestic and international conditions do not justify price hikes. As current conditions align with market realities, the government has no plans to intervene in pricing mechanisms.