Editorial: Market checks everywhere

Successive crises have confronted Europe and EU member-states with a surge in inflation that no one could have predicted.

The same applies to Greece, for which European Commission projections indicate a rise in inflation compared to 2021.

The development ministry maintains that it has of late imposed hundreds of thousands of euros in fines deriving from exhaustive checks (on price gouging).

The invasion of Ukraine and the ensuing sanctions presage continued price gouging on products the prices of which will inevitably rise due to current conditions, such as fuel.

The work of the Inter-Departmental Market Checks (competition) Unit (DIMEA) will continue its work at the same pace as during the pandemic.

The ministerial measures to curb illicit profit are in the right direction.

Taking measures in a timely manner against price gouging does not mean that the market will not sooner or later self-regulate, as it often has in the past with no one losing out.

Extreme cases of price hikes, however, must be handled immediately, effectively, and in an exemplary manner.

The last thing Greek society needs today, as it confronts inflation and braces for the next phase of the energy crisis, is for price gouging to become a trend.

If authorities delay in the beginning, the problem they will have to address later will be unmanageable.