The Head of Supermarket Owners Syndicate Nabil Fahd said that the economic situation is deteriorating and there is confusion regarding the dollar exchange rate, which is reflecting all sectors severely.

He pointed out that the pricing of goods is carried out according to the list of suppliers’ prices, and this equation controls the market prices.

He said in a radio interview: “The supervisory authority is the one that conquers violations, and competition must be boosted in order to reduce prices. The syndicate represents the large supermarkets that announce prices and offers, and 95% of our goods we receive are in Lebanese currency.”

Fahd added, “Our prices are determined by supplier regulations, and the profit margin depends on operational costs.”