March 25 (SeeNews) - Montenegro's government said it has expanded its existing list of basic foods and goods that wholesalers and retailers are obliged to sell at capped profit margins.
As of March 26, more than 500 products marked with a 'limited price' sign will be available to citizens in retail chains across the country, prime minister Milojko Spajic said in a statement on Friday.
He noted that the government's decision will not just limit further price growth but will also result in lower prices of many products. The decision aims to help Montenegrins fight inflation, increase their purchasing power and improve their standard of living, Spajic said.
The original list of goods with capped profit margins was introduced in February.
Last week, the government decided to cap at 5% cap the profit margins for wholesalers and at 7% the marhins for retailers of basic products such as wheat flour, sugar, sunflower oil and salt. The government also introduced a cap of 10% for wholesalers and retailers on a second group of products (including close to 30 mainly dairy and meat products). A 10% limit for wholesalers and a 15% limit for retailers of goods in a third group that includes more than 10 child care products was also introduced.
Annual inflation in Montenegro slowed to 4.3% in February from 4.4% in January.