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Two grocery stores reduce prices today

Grocery stores Krónan and Bónus decided to lower the price of food products today, instead of waiting until March 1, when the VAT (value added tax) on food products will be reduced to 7 percent.

“We decided to lower the VAT immediately in the Krónan stores to in response to requests from our customers who are excited to see the new prices in practice,” Eysteinn Helgason, the managing director of Kaupáss, which runs Krónan, told Morgunbladid.

“We want to do what we can for the government to be successful in its plan to lower food prices in the country,” Helgason added. He said he expected products to be delivered to the store with the reduced VAT in the next few days.

Gudmundur Marteinsson, the managing director of Bónus, said the company had decided to surprise its customers by lowering the price of food immediately. “We did this for the customers of Bónus,” he said.

Click here to read more about the price reduction.

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