As of January 1, the euro became the official currency in Bulgaria, and already in the first days, attempts by dishonest traders to exploit the transitional period for unjustified price increases and consumer deception are being recorded.
One of the most striking examples cited by the media is the rise in the price of a loaf of bread: on December 31, it cost 0.89 Bulgarian leva (approximately 0.46 euros), and by January 2, it had risen to 1.19 leva (0.61 euros). Thus, within 48 hours, the price increased by 33%, writes tv3.lv.
Experts emphasize that such a jump cannot be explained by costs, logistics, or inflation — it is a classic attempt to "test" the market in chaotic conditions.
An even more shocking case was recorded with an ordered pizza, which was priced at 18.75 leva but was recalculated to 36.67 euros — four times more than the correct value based on the fixed exchange rate.
"It may have been a technical error, but at such times, consumers need to be especially vigilant," warns consumer rights advocate Bogomil Nikolov. He emphasizes that it is precisely in the first days after the transition to the euro that such "errors" can be costly — both literally and figuratively.
Dishonest Sellers 'Shoot Themselves in the Foot'
Price speculation concerns not only food products. Residents also report a sharp rise in prices for household goods in online stores.
For example, a plastic storage box that cost 5.23 euros on January 1 was sold for 10.22 euros the very next day. The price of another similar item rose from 12 to nearly 24 euros. Experts stress that such overnight price jumps are not related to real market processes.
Nikolov notes that such practices harm the merchants themselves — people will simply stop buying from them. He reminds that the law provides for serious fines for unjustified price increases — up to 100,000 leva (over 50,000 euros).
Alarming Signals from Banks
Problems are also arising in the banking sector. One citizen reported that after attempting to deposit 1,400 leva after January 1, he found that the bank was using a rate different from the officially recorded one. Consumer advocates emphasize that such deviations are unacceptable.
"After the New Year, there should be no accounts in leva — they are automatically converted. If you deposit cash in leva, the bank is obliged to exchange it at the official rate. Any deviation is grounds for an immediate alert," emphasizes Nikolov and urges consumers to carefully check receipts, statements, and prices in the first months after the euro introduction.
'Golden Opportunity' for Fraudsters
According to the portal Dnevnik.bg, the introduction of the euro has become a real 'golden opportunity' for fraudsters.
The most common scheme now looks like this: a scammer calls, posing as an employee of a large financial institution, and states that due to currency conversion, it is necessary to urgently update the bank or online banking account. As soon as the victim provides access, unauthorized transactions are made from the account.
Many calls come from abroad, most often from Pakistan, and are conducted in English or broken Bulgarian — this alone should raise suspicions.
The period of simultaneous circulation of leva and euros increases the risk of counterfeit money circulation. Fraudsters count on the fact that many Bulgarians are still unfamiliar with the security features of euro banknotes and try to exploit their confusion.
'Rounding' Prices at Consumers' Expense
Already in the first days of the new year, the consumer protection organization Antispecula received complaints about price speculation on parking in the shopping center in the city of Pleven, writes the portal Novinite.bg.
There, prices were not so much 'rounded' as simply doubled. The organization poses a pertinent question: do sellers understand that one leva is not one euro?
The first days after the introduction of the euro in Bulgaria clearly show — the transition to the new currency will not be without upheavals. Consumer vigilance and activity will be key factors to ensure that the euro does not become a cover for mass speculation.
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