Deputy Economy Minister Marjan Risteski expects to see a reduction in grocery prices in November, after the Government moved to ban unfair trade practices, and ordered a reduction in the profit margin for over 2,500 products. The new law goes into effect today, and it limits the profit margin to 5 percent, with additional 5 percent allowed for expenses such as marketing.
We will begin to review the implementation of the law on Monday, and we expect the Commission for protection of competitiveness to give us the first results, said Risteskii.
He pointed to another, temporary measure to limit profit margins, that he said already led to the reduction of prices of over 70 products.
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