Bulgarian authorities have stepped up inspections across the country to combat unjustified price hikes amid concerns that some retailers might exploit the upcoming euro adoption to speculate. A joint effort involving the National Revenue Agency, the Competition Protection Commission, and the Consumer Protection Commission is currently underway, focusing on over 150 retail outlets, primarily food chains both national and local.

Ignat Arsenov, director of the General Directorate for Market Control at the Competition Commission, told Radio Sofia that the initiative began with a first wave of inspections in early June, and the second round is ongoing. He explained that the campaign will extend for at least a year, broadening its scope to include service providers such as beauticians, hairdressers, catering, and entertainment venues.

The inspections aim to track price trends across various sectors, identifying whether prices are rising or falling. Arsenov noted that since the start of the year, state bodies have observed persistent price increases. To address this, Prime Minister Rosen Zhelyazkov has tasked a working group, led by the Minister of Agriculture and Food, to draft legislation regulating the food and agricultural product supply chain. This draft law is set for public discussion soon and is expected to be enacted, complementing existing regulations related to Bulgaria’s euro introduction.

Measures designed to protect consumers are already incorporated in the National Plan for the Introduction of the Euro. Among these is the mandatory display of prices in both leva and euro, a practice that will continue from August until the end of the next year. Arsenov emphasized that this dual pricing will help both consumers and inspectors spot unjustified price increases and enforce the relevant laws.

Should investigations reveal unjustified price hikes, traders will be asked to provide explanations. Drawing from experiences in other eurozone countries, Arsenov pointed out that services such as beauty salons, hairdressers, shoemakers, and tailors often face pressures leading to price increases after currency changeovers. Catering establishments may also see similar temptations among business owners.