site.btaConsumer Protection Commission Head: There Is Tendency for Unjustified Increase of Food Prices

There is a tendency for unjustified increase of food prices, said Commission for Consumer Protection (CCP) Chair, Alexander Kolyachev, after a meeting with President Iliana Iotova on Monday. The meeting was also attended by Milena Krastanova, Executive Director of the National Revenue Agency (NRA). According to Kolyachev, dairy products have increased in price.

He was categorical that at present fuel prices cannot be factored in product prices. Possible shocks in mass fuel prices could affect the prices of goods at a later stage. "We will examine every unjustified price increase and impose the appropriate measures," he said.

He added that the Commission will implement the law and will impose the relevant sanctions in case of violations. The fines envisaged in the law are up to EUR 50,000 for a first offence and up to EUR 100,000 for each subsequent violation.

"I call on traders to comply with the Law on the Introduction of the Euro and to respond appropriately to the situation," he urged.

Milena Krastanova said that together with Kolyachev they had informed the president about the results of inspections carried out by the NRA and CCP in relation to the Law on the Introduction of the Euro, including identified violations, issued acts and penalty decrees, and fines imposed so far by the revenue agency totaling over EUR 930,000. They also presented plans by both institutions for follow-up actions related to rising fuel prices.

"We are monitoring prices and tracking supply chains to determine whether and where there are unjustified price increases," she explained. Krastanova added that the NRA publishes retail fuel prices and has not prepared an analysis of wholesale prices.

Fuel prices are increasing by about one euro cent per day, with the largest rise observed in diesel, she noted.

Regarding the task force announced by caretaker Prime Minister Andrey Gurov at the Council of Ministers, which will monitor fuel, electricity, and food prices to assess risk levels in the system and launch additional measures if needed, Kolyachev said that it has not yet held its first meeting.

Monday's meeting with the CCP and NRA was initiated by the head of state. Iotova is holding meetings with representatives of various institutions in connection with measures to address the economic consequences of the conflict in the Middle East.