Ministry: New food price discount scheme effective
The scheme “has been effective in increasing market competition, reducing inflation and protecting families against its effects,” the ministry said in a statement.
Following government measures, inflation related to the war in Ukraine peaked in January, after which its rate dropped first “visibly” in May, the statement said, adding that inflation may drop to below 20 percent in June.
As a result of new government measures, inflation is expected to further drop to single figures before the end of 2023, it said, noting that the cap on food prices will be removed on Aug. 1.
Meanwhile, the government has decided to expand 20 food categories that are currently subject to mandatory discounts at small retailers from Aug. 1 with the aim of boosting competition and protecting families, the ministry statement said.