Food Prices – Where Are the Largest Increases Being Reported?

According to the Chair of the State Commission for Commodity Exchanges and Markets, there are currently no economic factors driving an increase in the prices of basic food products.

The Commission acknowledged that some stores apply significant markups on food prices and called on consumers to boycott such retailers.

Special monitoring of food prices is currently being carried out in light of Bulgaria’s upcoming entry into the eurozone. Over the past 40 days, the Commission concluded that there are no reasons for a price hike, and that the market is generally stable.

A slight price increase may be expected for peaches and apples, as—similarly to cherries—the harvest has been largely destroyed by adverse weather conditions.

In contrast, there is a slight decrease currently observed in the prices of yogurt, tomatoes, cucumbers, and cabbage. A small rise is being registered in sugar, flour, and sunflower oil, as well as in cocoa and coffee. However, the latter is due to global market trends.

Compared to last year, the total value of the consumer basket has increased by approximately 10 BGN (about 5 EUR).

The Commission admits that in some locations, much sharper changes in prices may be observed. These, however, are not justified by economic phenomena, but rather by the pricing strategies of specific sellers. Consumers are urged to be cautious when shopping, and if they encounter unjustifiably high prices, they are advised to avoid purchasing from such vendors.

“If you check at least three market locations, you will find significant differences. Believe me, if you go to four or five large marketplaces and look at promotional labels—say, for oil, salt, flour, cheese, and yellow cheese—you could see a price difference of up to 40 BGN in your total basket,” explained Vladimir Ivanov, Chair of the State Commission for Commodity Exchanges and Markets.

“For example, if you see cucumbers priced at 2 BGN in one place and 4 BGN just 30 meters away, buy the cucumbers for 2 BGN. And if at a particular market location you see tomatoes for 10 BGN or apples for 5 BGN, that does not necessarily mean that prices have risen by 300% or that there is a negative trend—it's simply an unfair practice.”

Ivanov urges consumers to spend more time comparing prices—even if it takes more than an hour—because doing so could save them 40 to 50 BGN on their overall shopping.