High prices are not just a consequence of external factors / day

As the President’s Adviser to the President Martins Dreger informed, the parties discussed the first quarter of Latvia’s economic indicators and current issues related to reducing food prices.

The President emphasized that the rise in food prices not only affects household budgets, but also reflects trust in the market as a whole.

In his view, it is necessary to take targeted measures that will increase the transparency of prices and promote fair competition between traders and manufacturers.

The President noted that the closed memorandum on food prices is a step forward, but after a while it is necessary to assess the actual impact.

During the meeting, the parties also discussed proposals for amendments to the Law on State Funded Pensions submitted to the Saeima Budget and Finance (Tax) Commission.

LETA has already written that on May 27, Economy Minister Viktors Valainis (ZZS) signed a memorandum with industry representatives on food prices.

The closed Memorandum provides for the introduction of a low price food basket, the introduction of a price comparison tool, and the promotion of local products in stores.

The creation of a low -priced food basket will provide that at least one product with the lowest price category will be provided in the ten categories of goods, and with a certain regularity, the products will be changed to other products from the same category.

Memorandum-signed trader organizations include about 75-80% of market players, including « top! », « Elvi Latvia », « Aibe », « Narvesen », « Maxima », « Lidl », « Rimi » and others. At the same time, the Ministry of Economics is also working with non -memoranda retailer chains.