Skopje, 19 September 2023 (MIA) – As of Wednesday and through to November 30, 25 categories of products, i.e., hundreds of food products, will receive cuts of 10 percent of their August 1 prices. The retailers are obliged to mark the products with the label “guaranteed price”, said Minister of Economy Kreshnik Bekteshi at a press conference Tuesday after the Government adopted a decision determining the highest prices in retail trade.

Bekteshi said the list of products which was adopted Tuesday, will enter into force once it is published in the Official Gazette, it will then be mandatory for all retail sellers. The list, said the Minister, will likely be expanded in the coming period, while the current list, he added, will lead to a reduction of inflation of food prices by 4-5 percent.

“The price cuts of these 25 categories of products will not apply to current prices, but to their August 1 prices. The August 1 prices will be reduced by at least 10 percent. If the prices drastically rose for some of these products since August 1, then this could even mean a price reduction of 30-40 percent,” said Bekteshi.

Wholesalers and producers, including importers and distributors, Bekteshi added, have an additional obligation to supply the market with at least 70 of stocks of the same products they supplied in August 2023.

Failure to comply with the measures, said the Minister, could even mean closure for the entity based on the seriousness of the violation. This will be implemented by the State Market Inspectorate, which is why next Tuesday, the authorizations of the Inspectorate will be increased.

“Based on the violation, the State Market Inspectorate will be able to immediately act. I expect today’s decision to be respected in 99.9 percent of cases,” said Bekteshi and urged the citizens to report any violations to the Inspectorate.

If the Inspectorate fails to act, Bekteshi said, the appropriate measures will be taken against it as well.

Photo: Ministry of Economy