Minister of National Economy inspects markets of Astana on unjustified overpricing

According to the Statistics Committee, from the beginning of 2016 inflation in Kazakhstan amounted to 4.6%, mainly due to increased food prices. Therefore, it is important to prevent unjustified price rise for essential goods and socially important products, Kazinform has learnt from the press service of the Ministry of National Economy of Kazakhstan.
For this purpose, on a weekly basis the Ministry of National Economy monitors food prices relying on the Statistics Committee data, "Kazagromarketing" JSC and local executive bodies.
From July 12 to 19 the prices for socially important food products, that includes 33 names, increased by 0.3% in the country. Last week prices rose mostly for cabbage, sugar, eggs and tea. Among milled and hulled products the prices rose for flour and pasta.
Due to scarcity and price spikes special attention was drown to research of situation at the sugar market. The average retail price of sugar increased by 25.5% in the regions.The rise of sugar prices is observed every summer, because of increased demand.
"From today, we will control all facts and appeals of unjustified price rises for food, especially for socially important goods, control checks to be conducted across Kazakhstan," K.Bishimbayev said.
Currently actions of employees of antitrust authorities focused on research of the situation at the sugar market. The Committee territorial departments on regulation of natural monopolies and protection of competition analyze activities of wholesale and retail sellers of sugar. The first investigation was started in Karaganda region, after appeal due to rapid increase ofsugar prices from 238-244 tenge to 260-290 tenge per 1 kg in July in comparison with June, as well as sugar shortage in the region.
In addition, price rise for flour and bread led to adoption of antitrust response measures.
K.Bishimbayev and A.Issekeshev held talks with salespeople of Sharyn, Shanghai, Shapagat markets. They visited "Eurasia" shopping mall and "Magnum" shop and warned salespeople on speculation, noting that it is necessary to maintain stable and reasonable pricing, especially for socially important food products.