Published August 26, 2022
RÚV reports that bonus manager Guðmundur Marteinsson believes he is not responsible for freezing the company’s product prices.
This comes after Krónan announced its intention to freeze prices on 240 products on Wednesday. Guðmundur said it would be impossible for Bónus to do the same because of its dominant position in the market.
“Companies like Bónus rarely invest. It’s a very low markup and we are very sensitive to rising costs. It is not allowed to sell the product.In a situation where we get a 10% increase, the markup is wiped out and below the cost price, which is not allowed in our case,” Guðmundur said. says.
Inflation is around 10% and product prices have skyrocketed since Russia invaded Ukraine six months ago. Guðmundur believes it is likely that product prices will continue to rise in the near future. “Tough times lie ahead. Now the slaughter of the sheep is approaching and it seems to me that prices to farmers have increased by 20-30%. How will that affect our purchases?” I don’t know yet if I’ll give it,” he says.
