Bulgaria's Prime Minister: No Signs of Unfair Price Hikes Ahead of the Euro Adoption!

Prime Minister Rosen Zhelyazkov said that the latest sectoral review of pricing practices in large retail chains shows no evidence of coordinated or speculative price hikes linked to Bulgaria’s upcoming adoption of the euro. He pointed out that the analysis, covering June, July and August, reflects the effect of early state oversight combined with cooperation from major retailers - cooperation he explicitly acknowledged and thanked them for.

He stressed that every recommendation in the report should be examined closely, especially those highlighted by the Commission for the Protection of Competition. Once the public consultation process concludes, the government expects to clearly define regulatory and administrative steps aimed at supporting traditional Bulgarian industries and prioritising consumer protection.

Zhelyazkov welcomed the Commission’s work, noting that the analysis opens the door to a genuine dialogue among institutions, employer organisations, trade unions, retail chains, producers and consumers. In his view, the report offers a clear snapshot of the situation and can guide future policy measures intended to strengthen traditional sectors and agriculture.

He underlined that effective oversight remains central to protecting households. According to him, monitoring will continue both through the executive branch and the Commission, which retains the authority to initiate proceedings when necessary. The purpose of the analysis, the subsequent talks and the proposed improvements is to ensure transparency and predictability throughout the process.

The Prime Minister added that this analytical work and the public discussion mark the beginning of a long and careful effort to dismantle misconceptions, address actual problems and maintain openness at every stage, with the ultimate goal of reinforcing trust among consumers, producers and traders alike.

Although Prime Minister Zhelyazkov claims that there is “no data on speculative price increases” tied to the upcoming euro adoption, recent evidence suggests otherwise. For example, European Central Bank (ECB) President Christine Lagarde warned in November 2025 that Bulgaria may see a jump in inflation when the euro is introduced, largely because retailers often “round up” prices during currency conversions. Indeed, consumer-price data in Bulgaria shows that inflation has already been accelerating, with some analyses pointing that the shift contributes to higher prices for everyday goods and services.

Moreover, this concern is not abstract: earlier this year lawmakers approved temporary price-control measures precisely because of fears that businesses would exploit the euro conversion for profit. That suggests authorities themselves foresaw risk of speculative hikes, a fact hard to reconcile with Zhelyazkov’s certainty that “no data” points to price speculation.

Authorities must realize that the euro transition creates real conditions that make price surges, rounding-up, and speculative behavior more likely and official warnings and past inflation trends in Bulgaria give tangible reason to doubt the government’s assurance that prices will remain stable.