After August 8, the requirement for double labeling of goods will be eliminated, which practically puts an end to the mandatory presence of leva on labels in stores. “The full transition to the euro will in no way be a reason for raising prices and speculation, because the market is competitive“, assured Nikolay Valkanov, executive director of the Association for Modern Trade, in the “Interview in NOVA News”.
According to him, the reason traders cannot afford to speculate is that the sanction regimes under the Consumer Protection Act remain in force for another year.
“No trader can afford to simply remove the leva equivalent and arbitrarily increase the price in euros“, explained Valkanov.
The expert reminded that the retail market in our country is extremely competitive. Retail chains are constantly struggling to attract and retain customers, which is a natural market mechanism against speculation.
„A number of essential goods, especially food, are constantly offered at attractive, promotional prices. Independent experiments and observations over the past year have shown that the prices of basic products have practically not changed“, added the director of the Association for Modern Trade.
As the main factors for a possible price increase in the future, Valkanov pointed to the constantly growing cost of labor, the instability of the fuel and electricity markets, as well as the expected increase in the social security burden.
According to the expert, the real concern for business at the moment is not the change of labels, but the long period in which the state requires strict monitoring of prices. „Extending this period by another year means more administrative burden, continuous explanations to institutions and additional costs for the entire supply chain – from the manufacturer to the final retailer“, summarized Nikolay Valkanov.