Zero-VAT food basket price goes down by more than 9%

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The price of foodstuffs included in the zero-VAT basket was reduced by 9.67% by the end of June, according to data from the Food and Economic Security Authority (ASAE), released today by the Ministry of Economy.

“The price of the food basket has registered a positive and sustained reduction since April 17, the day before the exemption came into force, and by the end of June, a reduction reached 9.67%, according to data collected by the Food and Economic Security Authority up to that period,” the Ministry of Economy and Sea said in a statement.

These data were released after the Monitoring Committee of the Pact for Stabilization and Reduction of Food Prices met today, which happens for the fourth time since the measure that exempts from VAT 46 types of food products that are part of the basket came into force on April 18.

In addition to the VAT tax exemption in the price paid by the final consumer, this measure includes a reinforcement of support for agricultural production, namely green electricity, extraordinary support for agricultural diesel and support to mitigate the impact of the increase in the price of fertilizers and compost.

In the scope of this production support, according to the Ministry of Economy, 135.5 million Euros have so far been transferred to farmers, which reached 85,786 farmers.

In addition to ASAE, the monitoring committee includes the Competition Authority, the Tax Authority, the Directorate General of Economic Activities, the Directorate General of the Consumer, the Planning, Policy and General Administration Office of the Ministry of Agriculture, the Portuguese Association of Distribution Companies (APED) and the Confederation of Farmers of Portugal (CAP).

Besides representatives of these entities, the meeting today was attended by the Assistant Secretaries of State to the Prime Minister, António Mendonça Mendes, of Tourism, Commerce and Services, Nuno Fazenda, and of Agriculture, Gonçalo Rodrigues.

PM makes positive balance of zero VAT in visit to Primohorta, in Montijo

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