Super markets pledge to contain price increases on 50 products

Super markets operating in Greece on Wednesday pledged to present by the end of the month a "basket" of 50 different products necessary for a household's living for which they will seek to contain any price increases.

This pledge was made during a meeting between Development and Investments Minister Adonis Georgiadis with representatives of super markets and retailers.

Speaking to reporters, after the meeting, Georgiadis said participants agreed on this move and added that next week he will meet with representatives from the food industry to seek a similar agreement. He noted that the meeting did not discuss a "freeze" on prices and stressed that the result was not a "gentlemen's agreement" since each company will pursue its own policy on prices. "We do not breach rules of fair competition. It is something that we would never do," he added.