The Cabinet of Ministers has canceled the mandatory declaration in case of an increase in retail prices for social products

The Cabinet of Ministers has abolished the mandatory declaration in case of an increase in retail prices for social products by more than 5%. According to Resolution No. 650 of the Cabinet of Ministers of Ukraine dated June 19, 2023 "On Regulation of Prices for Certain Types of Food Products and Ensuring Stable Operation of Food Producers under Martial Law", this decision was made to ease pressure on business. This was reported by the State Service of Ukraine for Food Safety and Consumer Protection.

At the same time, the government has extended state regulation of prices for certain types of food products during martial law and for three months after its termination or cancellation.

According to the decree, the government will regulate prices by setting a maximum trade margin of no more than 10% on a limited list of food products. This list includes high-grade wheat flour, pasteurized milk with a fat content of 2.5% (in film), C1 chicken eggs, chicken carcasses and quartered carcasses, refined sunflower oil, rye-wheat bread and loaf.

It is worth noting that this list coincides with the list of products for which price regulation was introduced in Resolution #160 of February 26, 2022, when the Cabinet of Ministers began to control prices for social products.

According to the new decision of the Cabinet of Ministers, changes in retail prices for other products not included in the list of social products will not require mandatory declaration.

This decision will facilitate administrative procedures for businesses and provide them with greater flexibility in setting product prices. Entrepreneurs will now be able to independently adjust prices for social products based on market conditions and changes in the cost of raw materials and production.

However, it is important to ensure that this freedom does not lead to the inaccessibility of socially important products for the population. Therefore, the authorities should continue to control the market and take measures to prevent abuse and sharp price increases for essential products.

This decision of the Cabinet of Ministers meets the needs of business and will help maintain the stability of prices for socially important products, which is an important aspect of ensuring social protection of citizens in the context of martial law and economic difficulties.