Croatian Gov't Threatens to Blacklist Retailers Hiking Prices During Switch to Euro

World

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Croatia's government will intervene if traders increase prices because of the switch to the euro, Economy Minister Davor Filipović said on Tuesday following a meeting with representatives of retail chains and associations, according to a report by Intellinews.

Croatia started using the euro on January 1 and there were reports that in some stores prices were rounded up in violation of the conversion rate of EUR 1 to HRK 7.5.

"What I told the retail chains today, and what I am telling those who will try to take advantage of the changeover to the euro and make a profit at the expense of our citizens, is that they will not get away with it and that the government will do all in its power to protect the living standard of citizens," Filipović said in a statement.

He added that all measures are on the table, from blacklisting retailers to a price freeze on consumer goods. N1 reported that representatives of retailers claimed that the price hikes did not come as a consequence of the changeover to the euro but due to other factors, including the COVID-19 crisis and the Russian war in Ukraine.

Retailers claimed they rounded prices off according to the rules published by the government and the central bank. 

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