Skopje, 20 September 2024 (MIA) -  Rice, flour, pasta, sunflower oil, milk, yogurt, dairy products, vegetables, fruits, are some of the products included on the list of a total of 73 products in the so-called autumn market basket. The gross profit margin for those food products will be limited to 10 percent in wholesale and retail trade, the Government decided on Friday, at the proposal of the Ministry of Economy and Labor.

The Government's decision to limit the gross profit margin for some of the basic food products will enter into force the day after it is published in the "Official Gazette of the Republic of North Macedonia", and will be valid until October 31, 2024.  

Minister of Economy and Labor Besar Durmishi told a press conference on Friday that as the decision enters into force, the costs of food products and soft drinks are expected to drop by an average of about 10 percent.

Durmishi said the decision was made based on data from the State Statistical Office, regarding the index of living costs, which show that when comparing August 2024 with December 2023, an increase in food costs by 4 percent was recorded, of which the biggest increase of 10.9 percent is seen in fruits, followed by 6.6 percent in milk, cheese and eggs, 3.9 percent in vegetables, 3.6 percent in meat, and 2 percent in bread and cereals. For the same period, the costs of non-alcoholic beverages increased by 9.4 percent, of which mineral water, soft drinks, fruit and vegetable juices increased by 11.1 percent, while coffee, tea and cocoa increased by 7. 7 percent.

"According to the data, in consultation with the working group that was formed by representatives from the Ministry of Economy and Labour, the Ministry of Finance and the Agriculture Ministry, we believe that such increase in the costs of food products and non-alcoholic beverages is excessive and disproportionate in relation to the growth of procurement costs and the operating costs. Our estimates are that as the decision enters into force, the cost of food products and soft drinks will drop by an average of about 10 percent, which will also reduce the cost of living in the consumer basket for the food and beverage group," Minister Durmishi said. 

In the coming period the measure is set to be applied as a short-term measure around holiday periods, when product prices go up, in order to protect citizens' standard.