How will the "We Lock Prices" project benefit consumers and traders in Bosnia by reducing and locking the prices of certain products?

The Bosnian Federal Ministry of Trade, together with the Association of Employers, Consumer Associations, and Trade Unions, launched the project "We lock prices," whereby the prices of 40 food and hygiene products are reduced and locked for a period of 3 months. The project has officially started and will run until March 15th, 2024.

A lower and 'locked' price was agreed upon for 40+ products, which will be marked with a logo created for this purpose. Small traders who want to join this socially responsible project have the option to choose from a list of 20 products for which they will reduce and "lock" the prices.

This practically means that traders, i.e., retailers who voluntarily participate in this project, will have products from the list at maximum retail prices, but not all of them have to be from the same manufacturer. Also, stores participating in this project will have posters on their doors with a list of discounted products and the old and new prices of the products. Based on the measure, 40 food and hygiene products will be cheaper for the next 3 months. The relevant ministry had just announced at a press conference who from the large and small stores had applied for participation in the project.

Currently, there are 40 products on the list, and among others, there are particular products inside categories belonging to food, drinks, and other necessary day-to-day products. Some examples are edible sunflower oil, toothpaste, milk substitutes for infants, traditional coffee, fresh cheese, certain chicken products, dishwashing detergent, and so on.