“Inflation in Bulgaria is much higher than the average in Europe. It is a matter of time for the prices to start turning back,” Minister of Economy in the caretaker cabinet Nikola Stoyanov said for the BNR.
Wholesale prices are calming down, though not retail prices. Price caps do not work. The authorities are hoping that the e-platform containing price-formation information will boost competitiveness and bring down prices, Minister Stoyanov said further, and went on to cite employers that as a kind of insurance policy, in uncertain times everyone tends to elevate the mark-up. But things are not uncertain now, there is fuel, and we expect food prices to start going down. This is a battle the caretaker government is waging for a better life, Nikola Stoyanov said, and added he expected the inflation rate to drop down to single digits by May.
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