Price-fixing cases opened in Russia

09:07, August 27, 2010      

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Russia's Federal Anti-trust Service (FAS) opened nearly 50 cases against the wholesale food traders who deliberately have overvalued the prices, Itar-Tass news agency reported Thursday.

FAS deputy head Andrei Tsyganov said there was no serious ground for food prices growth in the country.

FAS has been concerned of the "hidden" price hike when retailers re-pack the food items in the smaller packages bearing the same price tags as before. The service believed there is a fault of all market players, "from a field to a counter", Tsyganov said.

Deputy head of the Trade Ministry, Stanislav Naumov, said the reason why the prices rise was in insufficient level of competition in Russia.

Meanwhile, nearly half of Russia's citizens are unhappy with how the government copes with price growth and lowering real income of the people, according to a poll conducted earlier this week.

Source: Xinhua

(Editor:张茜)

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