Greek Supermarkets to Cut Prices Up to 20% Starting August 31

Greek businesses will begin submitting binding proposals Monday to participate in a national price-reduction initiative that will cut supermarket prices on essential goods by 5% to 20% starting August 31, the Independent Authority for Market Control and Consumer Protection (AAEA&PK) said. Under the timeline set by the authority, companies will submit proposals by product barcode, which will be evaluated July 28. Supermarket chains will be notified July 29 of which products qualify, with fina...

By ANTHEE CARASSAVA