The changeover to the euro should not lead to price increases, UHM general secretary Gejtu Vella told an information meeting organised by the union’s pensioners’ section. They had to distinguish between price increases due to international market pressures, such as for cereals and oil, and those few in trade who would take advantage by raising prices during the currency changeover, he said.

Mr Vella spoke favourably of the work being carried out by the National Euro Changeover Committee. The European currency, he added, should bring many benefits, including stability, transparency in prices, low inflation, elimination of currency change costs and effective control of public finances.

In the coming days, Mr Vella said, the UHM would be giving the results of price movements noticed by its mystery shoppers, who aimed to ensure that there would be no price abuses. The aim was to prevent those in trade, who could be tempted to take advantage from the changeover.