FBiH Trade Ministry announces continuation of price lock initiative

Retailers presented a draft list of “50+20 items” to ensure that the most essential goods remain accessible, particularly for socially vulnerable groups.

“We are continuing our dialogue in a spirit of partnership, working with the Employers’ Association in the trade sector to find the best solution to market challenges. We have also taken into account important input from consumer associations. A working group will finalize the details, but the general agreement is that starting Friday, around 50 products will have reduced and locked prices,” said Minister Hasicevic.

He recalled that last year’s “Price Lock” initiative, involving retailers with 1,500 stores, had a positive impact, allowing consumers to save approximately 60 Bosnian marks (€30) on a basket of locked-price goods.

“We see that neighboring countries are introducing administrative measures such as profit margin limits, but I still believe that negotiations can lead to the best solutions, ensuring lower prices for essential food and hygiene products,” added Hasicevic.

The meeting host, Nihad Imsirovic, director of Konzum in Bosnia and Herzegovina, emphasized that retailers have shown goodwill and social responsibility.

"Retailers have demonstrated a strong commitment to once again support consumers, following last year’s Price Lock project. Some producers have already joined, and we expect suppliers to participate as well so that, through synergy, we can achieve the best outcome," said Imsirovic.

He also noted that, like the previous initiative, this project is not designed to provide low prices for luxury goods but rather to ensure that essential food items remain affordable for those in need.

Participants stressed that the selected products are not just the cheapest or lowest-quality items but rather the most commonly purchased essentials.

The project will run for three months, with a review of the product list and prices every 30 days to avoid losses in case of sudden global market fluctuations, according to a statement from the Federal Ministry of Trade.