Initially scheduled to launch on 1 November, the 'Affordable for You' campaign ('Достъпно за вас') was delayed to 15 November to ensure the participation of major food chains as well as smaller stores in Bulgaria.
There were also concerns from the Commission for Protection of Competition (CPC) that it would harm competition in the market. However, after negotiations, the CPC agreed to allow the campaign to proceed.
'Affordable For You' Campaign
The initiative will focus on 50 products at discounted prices marked with the initiative's logo in each store. Participating stores will have to offer at least 16 of these products, with the freedom to add others as they wish.
The products will span seven food groups, including vegetables, fruits, proteins, and other essentials. The list will eventually expand to include non-food and medicinal products as well.
The initiative is voluntary, and stores will have the freedom to choose which products to include.
"In every store participating in the campaign, the initiative's logo will be displayed next to the product itself. This way, we will be able to maintain consistently low prices," explained minister of economy, Bogdan Bogdanov [pictured] in a statement to bTV.
The ministry plans to conduct weekly price analyses and provide a website feature that allows users to compare prices for specific products across the country.
Elsewhere, Rabobank said in a report that consumers can expect some relief from food inflation next year, with the price of key staples such as sugar, coffee, corn and soybeans set to ease as supplies adjust higher in response to three years of soaring prices.