Latvia is no longer the leader in food price growth in the Baltics
“We can see that the desperate attempts of Minister of Economics Viktor Valainis to reduce food prices are yielding results. Government representatives and entrepreneurs signed a memorandum on food trade at the end of May, and traders also committed to introducing a low-price basket, in which each day some product in each group of staple foods would have a lower price than others.
The goal set by the Ministry of Economics was to achieve a 20% reduction for the most essential groups of food products, as well as to increase the share of Latvian food products in stores. It is clear that 20% is a distant and perhaps unattainable dream, but nevertheless, price growth has been halted and slightly reduced, and in the ‘championship’ of price increases, Latvia is no longer in the lead.”