Euro adoption in Lithuania: Most consumers complain about raised prices and inaccurate conversion

39 percent of consumers reported price increase or possible incorrect conversion into Euros at catering institutions (restaurants and cafés). 16 percent of the requests were related to price display at consumer goods stores, 14 percent – at beauty and fitness service providers (barber shops, fitness centres), website reports.

“We encourage people to be active and report possible violations of the Law on the Euro Adoption in the Republic of Lithuania. All consumer reports are forwarded to supervising institutions and inspections at places of provision of goods and services are conducted within three working days. Results of the inspections conducted in September will be published in mid-October. In addition to this, a list of violators will be publicly announced,” says Feliksas Petrauskas, director of VVTAT.

Specialists from 17 supervising institutions inspect whether providers of goods and services have prices tagged in both currencies; the conversion rate of 3.4528 Litas for 1 Euro is used; prices are rounded off in accordance with the set rules; prices tagged in Euros and Litas are clearly displayed and not misleading consumers.

In September, the VVTAT received requests related to the Euro adoption mostly from Vilnius (55 percent) and Klaipėda (30 percent) districts. “Most consumer complaints are related to price increase (52 percent) and price display in Litas and Euros (25 percent). We requested the enterprises, which increased their prices, to justify the price rise of goods and services. Most popular arguments we hear are increased wholesale prices, more expensive raw materials, and salary rise. In turn we want to encourage people to choose only those providers of goods and services, who joined the Memorandum of Good Business Practice during the Adoption of the Euro, have their places of providing goods and services marked with the logo Perskaičiuota Sąžiningai (Converted Fairly), do not use the Euro adoption as an argument to increase prices and convert them fairly in compliance with the law,” says the head of the VVTAT.

Sanctions to businesses for unfair conversion and display of prices range from a warning to fines of LTL 10,000 (EUR 2,895). In total, supervising agencies expect to conduct more than 30,000 inspections in all municipalities of Lithuania.

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