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Thursday 29 September 2022
HomeFeatured NewsA new approach to curb price fluctuations!

A new approach to curb price fluctuations!

Prices of a wide variety of products are commonly expected to experience an upward trend in the coming period, director of the National Observatory of Supply and Prices Ramzi Trabelsi said in a statement to “African Manager”, adding that the Ministry of Trade and Export Development is working on setting ceilings and thresholds for the prices of certain products.

Fall gap and supply difficulties

It is expected that supply difficulties will be recorded in the coming period, in connection with the intensification of structural impediments to the production apparatus (milk and derivatives, poultry products, red meat, vegetables and cereals). This is besides the arrival of autumn, which is accompanied by a natural decline for a number of fresh agricultural products such as vegetables (potatoes, onions, tomatoes, peppers, cereals …) dairy products, and therefore the possibility of a rise in their prices.

The same source said the rate of inflation in Tunisia is “reasonable” compared to many countries, noting that these rates in most countries of the European continent are currently in double digits.

The official also stressed that Tunisia is not immune to the global and regional situation and the impact of inflation on world markets. Indeed, the inflation rate has recorded a steady increase in the first seven months of the current year, with a monthly sliding rate between 0.7 and 1.4%, to reach the limits of 2.8% in July, after being about 8.1% in June.

Consumer prices recorded an increase in July 2022, compared to June, and this includes, among others, all food by 1.9%, leisure and culture by 1.5%, restaurants and hotels by 1.4%, and furniture and furnishings by 1.1%.

The relative rise in the inflation index during July was mainly due to the increase in prices of free materials by 1.2%, while the rate of increase in prices of regulated materials did not exceed 0.3%.

Price control measures

The prices of agricultural products have experienced a growth rate of 3.1% due to the increase recorded in the prices of poultry, vegetables and meat, given the significant decline in the production of these products. The latter coincided with the high demand and the high tourist season and the Eid al-Adha. As for the prices of processed food and laboratory equipment, they have seen a 0.6% rise for each group.

The same source said that the Ministry of Trade has taken a number of measures to control prices, including ensuring the regularity of supply of raw materials and basic commodities through the development of special programs to improve the supply and increase the level of supply during the consumption seasons and adjust the profit margins at the level of production and distribution.

In addition, a control program will be put in place to limit monopoly, speculation and smuggling, and to digitalize distribution channels.

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