New Digital Platform PosoKanei Launched in Greece to Combat Inflation
Quick Look
- Greece unveils PosoKanei, a new digital platform comparing prices of 10,000 supermarket products daily.
- It aims to arm consumers against inflation and rising living costs by showing real-time prices in Greece and Europe, and offering price history to identify misleading discounts.
AI-generated summary
Why It Matters
Greece faces high inflation and rising living costs, with inflation at 5% in May. A new digital platform, PosoKanei, has been launched to help consumers navigate these economic pressures.
A new digital platform, PosoKanei, which allows consumers in Greece to search for and compare the prices of around 10,000 supermarket products, was unveiled to Prime Minister Kyriakos Mitsotakis and the media on Tuesday.
The platform's data is updated daily, allowing users to compare prices in real time both in Greece and across other European countries, particularly for products sold by multinational companies.
The app also offers at least two months of price history for each item, enabling consumers to identify potentially misleading discounts or special offers.
"The Greek consumer is acquiring another ‘weapon’ in the fight against inflation and the rising cost of living," Mitsotakis said during the presentation, adding that unjustifiably high prices compared with other EU markets should not be tolerated.
Inflation in Greece reached 5% in May, remaining among the highest rates in the euro area, while many households continue to face pressure from rising living costs.
The platform currently allows users to compare the prices of products sold by the supermarket chains Galaxias, Sklavenitis, Chalkiadakis, SYNKA, Masoutis, My Market, AB Vassilopoulos, Kritikos, Market In and Lidl.
Users can also create personalised shopping lists and search for products within the same category, such as coffee or pasta, based on price and availability across different supermarket chains.
The application suggests lower-cost alternatives within the same category, helping shoppers reduce the overall cost of their basket.
When the same product is available in European retail chains, corresponding prices from abroad are also displayed. Countries currently covered include Italy, France, Belgium, Romania, Bulgaria, Cyprus and Spain, with Portugal expected to be added soon.
The app replaces the earlier e-katanalotis (e-consumer) platform launched several years ago. According to the government, it will continue to be developed based on user experience and feedback.
Open Questions
- Will retailers adjust prices based on competition?
- How will user adoption rates impact the platform's effectiveness?
