Almost 70% of Retailers in Romania Raise Prices After VAT Hike

A survey conducted by Soft Mentor shows that over 68% of the retailers in Romania have decided to increase prices, while only 31.71% said they are keeping the prices unchanged following the Government’s decision to raise the value added tax to 24%.

Amongst the ones that did not rose prices on July 1^st, 78% intend to increase them when they will receive more expensive products from their suppliers. In Bucharest, the percentage of retailers keeping prices unchanged is higher than the country average, raising to 44,87%. The situation can be explained by the fact that competition is fiercer in the Capital and small retailers are struggling to keep up with large retail chains.

The survey was conducted on a national level and pulled 205 companies in various fields of activity, clients of the company, and was made once with the update of management and accounting software products of Soft Mentor.