The Economics Ministry is proposing that the Cabinet of Ministers impose a limit of 12% on the rate of profit on basic food products.

The Economics Ministry made this proposal in its draft amendments to the Cabinet of Ministers resolution No. 1548 entitled «On Establishing the Powers of Executive Organs of Government and the Executive Organs of Municipal councils to Regulate Prices (Tariffs).»

The Economics Ministry is proposing that this profit rate should be established for wheat flour of the superior, first, and second grades, rye flour, bread and bakery products, pasta products, cereals, beef, pork, poultry, smoked sausages (excluding superior grade), milk with up to 2.5% fat, curd with up to 9% fat, sour cream with up to 20% fat, eggs, granulated sugar, and sunflower oil.

The Cabinet of Ministers resolution No. 1548 grants the Crimean Council of Ministers, regional administrations, as well as the Kyiv and Sevastopol municipal administrations the power to regulate the level of production profitability.

According to the explanatory notes the draft amendments, the draft amendments were prepared with the aim of restraining the increase of the prices of basic food products.

As Ukrainian News earlier reported, the inflation rate in Ukraine was 16.1% during the January-September period.