"Strict monitoring of food prices" - Ibrahimaj: Transparency Board, until prices return to pre-crisis levels
In a press conference, the Minister of Economy and Innovation, Delina Ibrahimaj, stated that the price of oil will be continuously monitored and that the ceiling prices will be determined by the established Board. Among other things, she emphasized that yesterday's intervention came because traders did not reflect the decreases in the price of hydrocarbons on the stock exchange.
"We have had a 24% increase in the price of oil. As for the stock market and stock market prices, since February it has increased by 99.7%. It is evident that the increase in the stock market price, although it has affected the daily price, does not have a direct reflection of the same value and size in domestic prices. Yesterday we gathered the Board, and other board members, in order to discuss prices and set maximum trading prices, the mechanism used is a formula based on the act adopted in 2022 when we had a similar situation, it is based on the daily stock market prices and a margin of 3 lek for the majority and 12 lek for the minority is added."
Minister Ibrahimaj, asked if there will be monitoring of the increase in the price of the basket, admitted that there has also been an increase in the prices of food products, while emphasizing that they are conducting daily monitoring and that they will not allow abuses.
"As for food, we are monitoring a basket of 80 foods and the truth is that the increased prices have begun to be reflected in some of the products in the basket. We will activate a team, several monitoring groups from the State Inspectorate of Market Supervision to verify these prices because we have selected this list of products and a limited number of traders in cooperation with INSTAT. Now we will go out into the field to monitor prices and the reflection of supplies with reality. If we are going to make decisions in the future, we will make decisions related to the basic consumer basket, with the general increase in consumer prices. What we must guarantee is that there is no speculation with price increases that do not reflect customs clearance prices."
Ibrahimaj also stressed that the Transparency Board will remain in place until prices return to pre-crisis levels, as a result of the change in the stock market. As for assistance to the needy, the minister said that if intervention is needed, the price of electricity will not change.
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