The Minister of Finance asks the Competition Council “to verify how the big retailers form prices”. “Certain prices are rounded”
Alexandru Nazare, Minister of Finance / Photo: Inquam Photos / George Călin
The Minister of Finance, Alexandru Nazare, said on Wednesday at Antena 3 that “all the levers” must be acted for the tempering of inflation and sent a letter to the President of the Competition Council, Bogdan Chirițoiu, to control how the prices are formed by the big retailers.
“I addressed a letter to the President of the Competition Council, to check how the big retailers form the prices, because I find it very important to be careful during this period because certain prices are rounded (…).
“We have a great temporary increase in inflation”
Inflation (calculated on the basis of CPI), climbed from 5.8% in June to 7.8% in July, after energy and fruit prices exploded. Also, the National Bank reviewed the inflation forecast from 4.6% to 8.8% for the end of 2025, and the governor Mugur Isarescu said that “in September it will probably be the peak, instead of 9%, it will probably be 9.6-9.7%”.
“This increase in inflation, which reflects here the elimination of energy subsidy, which at this moment could no longer support at the level at which it was supported in recent years, because it has created some huge arrears, 6-7 billion lei, these arrears have rolled and these money at some point will have to pay them, It clearly affects the purchasing power, ”said Alexandru Nazare.
He claims that although there is “a great temporary increase in inflation, but we pass it this year.”
“Taking measures to reduce the deficit, within one year, these measures will indirectly temper this evolution of inflation (…). I take this time horizon of one year because, as you have seen, and the governor in presenting the report on inflation said that inflation would return in December, next year, under the interval of the reference. Great temporary growth of inflation, but we pass it this year, ”the Liberal continued.
The Minister Nazare said that “this trend” of inflation will be temperate “if we spend the European funds properly and if we do the budget consolidation and lower the deficit, and lower the pressures we have at the moment.”
