North Macedonia followed several countries of the region on Tuesday, placing limits on basic food prices.

The government in Skopje put a 5 percent limit on wholesale margins and a 10 percent limit on retail margins on basic foodstuffs for a period of three months. Economy Minister, Kreshnik Bekteshi, said that the measure will take effect on March 1, adding that it should help lower food prices. The minister said the measure covers bread, sugar, flour, sunflower oil, milk, meat and meat products, cheese, rice, eggs, pasta, wheat, fruit and vegetables.

The minister said that the government’s decision is meant to limit profits and control prices. He said that the decision includes fines of up to €10,000.