Consultations with retailers on profit margin cap continue

The National Economy Ministry said on Friday that it is continuously in consultation with affected retailers regarding the implementation of the profit margin cap.

The ministry said it would review all queries, including ones from retailers’s association OKSZ. It noted that the association so far has sent the ministry a question only regarding the proportion of private label products that needs clarification.

The ministry said a professional guide will also be published, which will help the relevant actors in the predictable and uniform application of the law. The ministry said the margin cap, which comes into force on Monday and caps supermarkets’ profit margins at 10pc for some goods, could result in an average price reduction of more than 10pc for the thirty product categories affected.

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