Bulgarian officials found major food price jumps during recent store checks. Government inspectors discovered some items cost up to 83 percent more than before. The price hikes happened between early June and mid-June across the country. Three different agencies worked together to track these changes. Agriculture Minister Georgi Tahov called the increases unfair speculation.
Tahov told reporters that farms and agricultural products show no signs of problems. He said nothing from the farming side explains these dramatic price increases. The minister believes stores are taking advantage of shoppers for profit. His department found no real reasons for food to cost so much more. Tahov thinks someone wants to make extra money before currency changes happen.
Government agencies have contacted 43 store owners for explanations about their pricing. Officials are waiting for information from 50 different retail chains across Bulgaria. The Commission for Protection of Competition led the investigation with two other agencies. Inspectors documented price increases ranging from 5 percent to 83 percent on various products. State regulators continue watching stores to stop unfair pricing practices.
Tahov explained that speculation might not have a clear legal definition but evidence shows it exists. He pointed to agreements between companies and price increases without good reasons. The government wants to prevent stores from overcharging customers during this period. Officials plan to keep monitoring retail prices to protect Bulgarian consumers from unfair business practices.
Tahov told reporters that farms and agricultural products show no signs of problems. He said nothing from the farming side explains these dramatic price increases. The minister believes stores are taking advantage of shoppers for profit. His department found no real reasons for food to cost so much more. Tahov thinks someone wants to make extra money before currency changes happen.
Government agencies have contacted 43 store owners for explanations about their pricing. Officials are waiting for information from 50 different retail chains across Bulgaria. The Commission for Protection of Competition led the investigation with two other agencies. Inspectors documented price increases ranging from 5 percent to 83 percent on various products. State regulators continue watching stores to stop unfair pricing practices.
Tahov explained that speculation might not have a clear legal definition but evidence shows it exists. He pointed to agreements between companies and price increases without good reasons. The government wants to prevent stores from overcharging customers during this period. Officials plan to keep monitoring retail prices to protect Bulgarian consumers from unfair business practices.
