Aisle in supermarket in Belgrade, 15 February 2024. Credit: Hitra / Shutterstock.com

Serbia has announced the prices of more than 80 food and drink products will be lowered for two months after talks with retailers.

In a statement, Belgrade said the reductions on products ranging from fruit and veg to coffee started yesterday (1 September) and will last until the end of October.

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Prime Minister Miloš Vučević said shoppers will be able to buy 81 types of food and drinks sold at 2,500 grocery stores in Serbia at prices “more favourable” than at present.

The products, which also include meat and dairy products, will display the ‘Najbolja cena’ label, which translates as ‘best price’.

Vučević said the price reductions will amount to an average of 26.8% “compared to the best prices the products have had so far”. He added households will be able to save from RSD8,000 ($75.66) to RSD22,000.

The Serbian government held talks with retailers on the move, the prime minister said. The grocers “submitted to the government what the best price in each category of products would be”.

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Broadcaster Una TV Serbia quoted Vučević as saying: “I don’t have a problem with anyone making a profit but I only have a problem if someone creates extra profit. As a government, we have to take care of the citizens and the economy, both of which make up the fabric of a country. First of all, we have to take care of people with lower earnings, pensioners so that they feel the care of the state.”

Earlier this year, Hungary’s government announced plans to require bigger food retailers to label items to indicate instances of “shrinkflation”.

Food retailers with a sales revenue larger than Ft1bn ($2.9m) were obliged to display warnings on products that have shrunk in size while their prices have been maintained or increased.