Skopje, 1 March 2024 (MIA) – Inspectors are set to ramp up controls on traders and producers in order to identify and sanction drastic price hikes on food products after the Government’s “guaranteed price” measure officially ended on Friday.

The head of the State Market Inspectorate, Goran Trajkovski, said inspectors would sanction any unfair trade practices. He urged wholesale and retail traders to be socially responsible and adapt their prices in line with the citizens’ standards.

“No one is above the law, those who apply unfair trade practices and violate the laws will be sanctioned. Depending on the violation, there is also a possibility of closures for a certain period of time,” wrote Trajkovski on Facebook.

Previously, the Deputy Prime Minister in charge of economic affairs, Fatmir Bytyqi, urged ethical behavior from traders, but called on the Commission for the Protection of Competition and the Consumers' Organization to also react if necessary. The best solution, he said, would be to adopt the draft law banning unfair trade practices which is currently in the Parliament.

The “guaranteed prices” measure was introduced on September 20, 2023, it ensured that many food products were sold at prices 10 percent lower than the ones they had on August 1 of 2023.