In a recent interview, Latvia's Economy Minister Viktor Valainis revealed that an additional agreement to expand the range of products within the low-price food product basket is set to be signed at the beginning of October this year. Valainis expressed confidence that all parties involved have reached an accord to increase the number of products included in this initiative, aimed at providing consumers with more affordable food options in response to rising costs.

Furthermore, Valainis highlighted the importance of visibility for these low-price items in retail spaces, insisting that if products are categorized as low-cost, they need to be easily identifiable in stores. Retailers have reportedly shown willingness to cooperate on this matter, ensuring that the identified low-cost products receive proper display attention, thus facilitating better access for consumers needing affordable food options during a period of economic strain.

Additionally, Minister Valainis mentioned the planned reduction of the value-added tax (VAT) for certain food items in Latvia later this year. He affirmed that there would be further agreements regarding how the VAT reduction will be implemented, indicating a concerted effort by the Latvian government to make essential food items more affordable while collaborating closely with retailers to ensure the effectiveness of these measures in the marketplace.