Economics

Supermarkets are now able freeze or reduce prices on consumer goods as market conditions  only recently allowed them to do so, Treasury and Finance Minister Nureddin Nebati has said.

Last year saw pandemic-related costs and developments such as elevated oil and natural gas prices, Nebati told daily Hürriyet in an interview.

The head of an umbrella organization of restaurants has called on all eating houses to freeze prices until Ramadan, pointing out the "recent decline in many input prices."

Central banker Yannis Stournaras issued a fresh message to the government and the opposition to preserve fiscal stability ahead of the elections, so as not to jeopardize the country's course back to investment grade, and another to the social partners to prevent the creation of an upward price-wage spiral.

As long as demand is greater than supply, apartment prices will go up, architect Branka Bonjak tells RTS and reveals when prices are expected to start declining.

An official inflation rate of 7.2 percent in Greece for last month, December 2022, showed a lower rate for a third straight month, and the fifth out of the last six months where the div has dropped, on an annual basis.

Labour and Social Affairs Minister Kostis Hatzidakis on Tuesday announced that he intends to table an amendment in Parliament in the coming days on the timetable of the deliberations with the social partners and experts regarding the minimum wage.

Wage growth in the Eurozone is expected to be "very strong" over the next few quarters, but real wages are still likely to decline given the sharp rise in inflation, according to an article in the European Central Bank's economic bulletin released on Monday. Reuters.

BELGRADE - In 2023, Serbian inflation is expected to remain in double figures and may be expected to fall below 10 pct only at the end of the year, says Radojka Nikolic, editor of the Biznis and Ekonometar economic magazines.

Migros, one of the largest supermarkets with nearly 3,000 outlets across Türkiye, has joined a hard discount retailer in freezing prices on stable products.

Alamy Photo

Şok, one of Türkiye's largest hard discount retailers, will freeze prices on 1,000 items, including staple products such as rice, flour, vegetable oil, sugar and tear, until the end of January.

If other supermarkets follow suit, such a move is likely to have a positive impact on the inflation outlook, according to a consumers' association.