Bulgaria Fines Cherry Sellers After Price Spike on All Souls’ Day Amid Preparations for Euro Transition

Cherry sellers faced fines following a sharp price increase on All Souls’ Day, officials announced. Vladimir Ivanov, head of the State Commission on Commodity Exchanges and Markets (SCSBT), told BNR and "Sega" that on Saturday, retail prices soared to 20-22 leva per kilogram, up from 14 leva the previous day. Wholesale cherry prices, meanwhile, remained around 8 leva per kilogram.

The investigation revealed that the price hike was mainly driven by small traders operating in markets, rather than major retail chains, Ivanov explained. The fines were issued not simply for raising prices, but for lacking the proper documentation and failing to properly account for transactions.

Ivanov attributed the brief surge to the psychology of small sellers reacting to the holiday demand, emphasizing that in retail chains prices stayed steady at about 12 leva per kilogram.

The food market is currently experiencing the usual seasonal price drop, typical for this period every year, the SCSBT noted. However, this year’s price decrease is slower due to irregular supply caused by unfavorable weather affecting fruit harvests.

The consumer food basket now costs around 110 leva, which is about 2 leva less than last week, driven mainly by seasonal falls in fruit and vegetable prices. Prices of tomatoes, cucumbers, potatoes, and cabbage have dropped.

Sugar prices have decreased by roughly 8% compared to last year. Oil prices have increased slightly by around 10 stotinki, though the global market remains stable. The outlook depends on the upcoming harvest, which will shape future trends.

Eggs and dairy products remain steady in price, with cow cheese showing remarkable stability over the past year. Oil prices have dropped by 20 stotinki due to increased supply in Europe, raising hopes to overcome the previous oil crisis. Fresh milk is stable at about 2.08 leva per liter, aligning with last year’s levels.

Meat prices vary: pork is seeing a downward trend, while chicken prices tend to rise.

Prime Minister Rosen Zhelyazkov addressed concerns about possible price hikes linked to Bulgaria’s upcoming euro adoption. He stressed that switching to the euro itself does not cause price increases; only real economic factors can.

Speaking at the signing of a memorandum with business and labor organizations to ensure a smooth euro transition, Zhelyazkov reminded that Bulgaria’s inflation forecast for the year remains below 3%.

He warned that any price increases without objective reasons will be treated by the government as speculation, with a special focus on essential goods and services.

“The inflation framework sets the boundaries for price movements unless there are objective factors at play. Without these, unjustified price rises will be considered speculation,” the Prime Minister stated.