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Bulgaria's government wants to reduce food prices by at least 20 percent

published on 3/7/23 11:01 AM

Photo: BGNES

Mass retail chains in Bulgaria are currently putting an 80-90% markup on food products, caretaker Economy Minister Nikola Stoyanov told Nova TV.

The caretaker cabinet is planning to introduce a "ceiling" on the trade markup of up to 20 or 25%. Retailers charging a larger margin will be obliged to declare it to the Consumer Protection Commission, which will check the formation of the price.

The government's goal is to reduce prices by 20-30%.

By the end of the week, a comparison site showing food prices in the EU and in Bulgaria will be operational, Stoyanov said.

According to the minister, the increase in inflation was also fueled by the increase in incomes in 2022.

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Radio Bulgaria News Consumer Protection Commission food prices food products inflation markup prices

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