Government to look into soaring price of basic food products

The government is planning to look into sales profit margins in connection with the steep rise of food prices in Czechia, Agriculture Minister Zdeněk Nekula announced on Friday. Minister Nekula said that  an inter-ministerial working group was being set up to look into the problem given suspicions of a possible cartel agreement between supermarket chains. The working group will meet on March 21, when it will have the price data for February at its disposal.

The price of food products has soared in recent months. For example, the price of rice has increased by 31.9 per cent in a year, flour has gone up by 36.1 per cent, pork by 31.1 per cent, semi-skimmed  milk by 39.5 per cent, eggs by 95.2 per cent and sugar by 75.1 per cent.