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25 Mar, 2008 12:48

Ukraine eyes inflation-busting price caps

Ukraine's government plans to set price controls on key food stuffs in a bid to stifle inflation, which reached almost 17% last year. The draft proposal has been published on the government's web site.

Producers have feared that the government of Prime Minister Yulia Tymoshenko will return to quick-fix measures such as price controls, as it did during her time in office in 2005.

The draft proposes a limit on retail prices of 15% above wholesale prices on flour, bread, sugar, beef, pork, poultry, sour cream, butter, and eggs, among other good.

It also aims to limit profits of producers of flour and bread to 12% above costs.