The average price of the basic basket fell 6.26%, after the entry into force of zero VAT on 46 products, according to data from the ASAE, released by the Ministry of Economy.
According to the ASAE report [Autoridade de Segurança Alimentar e Económica]based on a sample of a good for each type/category with selection criteria, generally own brand, and a collection of online and physical stores (1,220 commercial spaces), it was verified a 6.26% decrease in the total average price of the selected basket”, indicated, in a statement, the Ministry of Economy and Sea.
The data was presented this Thursday at a meeting of the Monitoring Commission of the Pact for Food Stabilization and Supply, two days after the entry into force of the measure.
In addition to ASAE, the Competition Authority, the Tax Authority, the General Directorate of Economic Activities, the General Directorate of Consumption, the Office of Planning, Policy and General Administration of the Ministry of Agriculture, the Portuguese Association of Distribution Companies (APED) and the Confederation of Portuguese Farmers (CAP).
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To contain the impact of inflation on the portfolio of the Portuguese, the Government launched a series of measures, such as the application of a VAT rate of 0% to a basket of basic food products.
The list of products with 0% VAT includes canned tuna, cod, bread, potatoes, pasta, rice, onion, broccoli, chicken, pork, or olive oil.
The Pact for the Stabilization and Reduction of Food Prices was signed between the Government, the Portuguese Association of Distribution Companies (APED) and the Confederation of Portuguese Farmers (CAP).
Lusa has contacted APED and CAP, but so far has not received a response.
Source: Observadora
