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Rigid price monitoring set to prevent price hikes when Euro arrives

According to the Economy Ministry's Concept of Consumer Protection in the Process of Euro Adoption, short interval price monitoring by the Slovak Statistics Office during the period of dual pricing should prevent illegal price hikes. The Statistics Office plans to monitor prices regularly in one or two-week intervals.

In cooperation with the National Bank of Slovakia (NBS), results will be evaluated on a monthly basis and will be published regularly. The Economy Ministry intends to focus its surveys on business and financial services as well as areas of frequent customer purchases, such as transport, energy, telecommunications and postal services. Food prices, wages, pensions, social contributions, as well as health care costs will also be closely scrutinized.

Supervisory bodies will carry out inspections of Slovakia's Trade Inspection (SOI), State Energy Inspection (SEI), the State Institute for Drug Control (SUKL) and the State Veterinary and Food Administration (SVPS), the Posts Regulatory Office, Slovakia's Telecommunications Office, the Public Health Authority (UVZ) and regional public health authorities and municipalities will all carry out inspections to see that dual pricing displays as stipulated by the general law on Euro adoption are posted that and all regulations are complied with. Fines and sanctions will be levied for violations.

Compiled by Zuzana Vilikovská from press reports
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