Raul Eamets: What Does the Price of a Grocery Shopping Basket Depend On?

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It is difficult to say whether lowering the VAT on food products will make them cheaper, as it largely depends on the behavior of merchants. What is certain is that increasing the VAT will make food products more expensive, writes Raul Eamets.

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Lowering VAT on food products may seem like a good idea, but an analysis by the Bank of Latvia shows that if the VAT increase is passed on to prices 100 percent, the decrease will only be 38 percent. The difference will disappear into the merchant's pocket and increase profits. The same is shown by an analysis of food prices published in Delfi.

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According to the KDH, price increases worsen life, especially for citizens with lower incomes and dependency.

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The opposition movement claims that despite Prime Minister Robert Fico declaring a fight against high food prices, the results are the opposite.