Gov't to Extend Mandatory Food Discounts From August

Retail

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The government-mandated discounts on food products that larger supermarkets have been required to offer since June will be extended to cover the products currently subject to price caps after the price caps are phased out from August 1, the Ministry of Economic Development said on Wednesday, news agency MTI reports.

In order to boost competition and curb inflation, larger supermarkets will have to offer discounts of at least 15% relative to the procurement price on all products from two product types of the eight types currently subject to price caps, the ministry said.

Furthermore, these supermarkets will temporarily not be allowed to offer these products at prices higher than the procurement price, they added. 

The government earlier rolled back prices for a number of staples, including pork, cooking oil and flour, in an effort to dampen inflation.

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