New food price surge threatens Greece as Black Sea disruption drives up costs – What to expect in 2027
Wheat prices have risen by more than 30% since the start of 2026, while freight costs are soaring on key shipping routes. Supply chain disruption and harvest uncertainty are raising concerns over further food price increases
Greek government launches price reduction initiative covering 1,740 products
The scheme, which runs until December, covers 875 branded codes, 405 school items, 360 private label products and 100 meat codes, with branded discounts reaching 44 percent once supermarket reductions are added at some chains
Government and supermarkets agree voluntary plan to cut grocery prices from 31 August
Retailers and suppliers now have 10 to 15 days to turn Wednesday's framework agreement into a working plan, deciding which products qualify, how deep the discounts will go, and how they will be flagged on shelves. The scheme comes as food inflation holds at 2.7%