Competition Council head: Food prices in Romania, 40% lower than in EU

The food prices in Romania are not that high, despite the increase in the past year, according to Competition Council president Bogdan Chiritoiu. “European Statistics show us that food prices in Romania are, on average, at 60% of the prices in the European Union. Thus, what costs, on average, RON 100 in Europe, in Romania only costs RON 60. It’s a relatively good situation,” Chiritoiu said, according to local Agerpres. He added that the 4% increase in food prices registered in 2017 is not that high, given that Romania had a double-digit inflation rate before joining the EU. He also said that the Competition Council couldn’t do anything to prevent generalized price increases, which can only be combated through macroeconomic mechanisms, namely the government’s fiscal-budgetary policy and the central bank’s monetary policy. The Competition Council can only act when it observes unusual price increases in some sectors or for some products, Chiritoiu explained. He also expects the Price Monitor to put pressure on food prices as consumers will be able to compare the prices of similar food products sold by local retailers. editor@romania-insider.com