Starting in December, the largest retail chains in Latvia will begin daily reporting on prices for basic products in the "low price basket". This innovation aims to enhance competition and curb price increases.
In December, the Central Statistical Bureau (CSP) will begin receiving prices for products from the "low price basket" from retail chains, reports "360TV Ziņas". The three largest chains – Maxima, Rimi, and Lidl – are mandated by law to update information on product prices daily, grouped into 10 categories.
The categories include: bread, milk, dairy products, fresh vegetables and potatoes, fresh fruits and berries, meat, fresh fish, flour and other grains, eggs, olive oil or other vegetable oils. Other supermarkets promise to do this voluntarily.
Current prices for essential products received by the CSP will be available to existing price comparison services, such as Letapartika.lv, CenuDepo.lv, and VisiBukleti.lv. They plan to fully operate with the new data starting in January 2026.
This data will allow consumers to compare prices and purchase necessary goods at lower prices, and the Ministry of Economics hopes that the "low price basket" will create competition and slow down the rise in prices for essential food products.
Latvia has become the first country in the European Union to attempt to combat rising prices in this way. Politicians from Lithuania and Estonia have already shown interest in Latvia's experience.
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