Korkidis to OT.gr – The phenomenon of price increases is set to last

The president of the Piraeus Chamber of Commerce and Industry, Vassilis Korkidis, referred to the measures that the Greek Prime Minister, Kyriakos Mitsotakis, is going to announce, speaking at the stand of OT at the Thessaloniki International Fair.

“No one will be left behind” Mr. Korkidis said characteristically, talking about new, smart and sustainable products that will enhance the entrepreneurship and the new generation. After all, the new generation, as he stressed, should be strengthened in order to be given the skills to create and move forward.

Regarding employment, Mr. Korkidis referred to the fact that 87% of companies have retained the number of their employees, which is due to support measures, but noted that many companies complain that they cannot find employees to staff their business.

Regarding the burning issue of price increases, the president of the Piraeus Chamber of Commerce and Industry, pointed out that the phenomenon has actually started 15 months ago, initially with small increases that especially the exporting and importing companies realized immediately. A strategic factor was the price increases in maritime fare prices, which have increased by up to 385%. In fact, Mr. Korkidis estimated that, unfortunately, there will be no relief of this situation soon.

For example, as he explained, there are 630 container ships to be built, which have been ordered, but it will obviously take time for them to be delivered and set sail.

In this sense, Mr. Korkidis did not rule out the scenario that the strong increases in prices will last until April 2022. This means, in view of the Christmas period, that we will not see empty shelves, but we will probably not avoid the… half-empty ones.

Moreover, the phenomena of stagnant inflation should be taken into account, not in Greece, but in Europe and the USA, the huge shortages of raw materials that have led to long delays in production, which no one can estimate how long they will last.

The question, of course, is how companies can react to this image and what they need to do. The answer, according to Mr. Korkidis, is to create stock of goods, possibly proceeding to many small markets from many producers, but in order to do this, in order to be able to achieve this, it is necessary to have the appropriate liquidity. Something that can only be achieved with the necessary credit flow from the banks. In fact, help could come from the Development Bank, he stressed.