Prices of bread, cooking oil increase

The price of a loaf of bread may go up 13.4 percent to reach RSD 29.5 (0.37 eurocents) as of September 1.

Izvor: B92

Saturday, 25.08.2007.

15:24

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The price of a loaf of bread may go up 13.4 percent to reach RSD 29.5 (0.37 eurocents) as of September 1. The new price was agreed at yesterday’s meeting between Trade and Services Minister Predrag Bubalo and representatives of the baking and coking oil production industries, and largest retail chains. Prices of bread, cooking oil increase The agreement says the price for a liter of sunflower cooking oil will not exceed RSD 95 (EUR 1.18) over the next six moths, which is a 15 percent increase in comparison to the current prices. “The reason why basic food products’ prices have gone up is the increase in prices of materials needed for their production,” Bubalo explained, stressing that the decision will not jeopardize citizens’ standard of living. “I am very satisfied with the fact that bread and cooking oil producers, along with retail merchants, displayed a high level of responsibility with respect to the protection of our citizens’ standard,” he said, adding that producers even gave up on a part of their profit by agreeing to keep the prices at the said level. Nevertheless, economist Miroslav Prokopijevic says it is not a longstanding deal, voicing doubts that bread and cooking oil producers might easily breach the agreement and hike prices later.

Prices of bread, cooking oil increase

The agreement says the price for a liter of sunflower cooking oil will not exceed RSD 95 (EUR 1.18) over the next six moths, which is a 15 percent increase in comparison to the current prices.

“The reason why basic food products’ prices have gone up is the increase in prices of materials needed for their production,” Bubalo explained, stressing that the decision will not jeopardize citizens’ standard of living.

“I am very satisfied with the fact that bread and cooking oil producers, along with retail merchants, displayed a high level of responsibility with respect to the protection of our citizens’ standard,” he said, adding that producers even gave up on a part of their profit by agreeing to keep the prices at the said level.

Nevertheless, economist Miroslav Prokopijević says it is not a longstanding deal, voicing doubts that bread and cooking oil producers might easily breach the agreement and hike prices later.

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