EU – Baltic States, Financial Services, Latvia, Legislation, Markets and Companies, Retail

So far, 390 companies have jointed the campaign, which operate more than 4,500 retail trade and services outlets.

Most of these companies are retail trade enterprises.

Some companies and businessmen have been rounding up their prices in lats, so the prices would also be round once the euro is adopted in Latvia. This shows all companies in a bad light, creating the impression that all companies are rounding their prices up – which is not so, and eventually it will be up to residents whether to buy the goods and services offered by such companies or not, say the supporters of the "Honest Introducer of the Euro" initiative.

According to other countries' experience, the adoption of the euro had little effect on consumer prices: 0.3% in Estonia, 0.2% in Malta and 0.25% in Slovakia. This means that the average statistical increase will be 0.2% to 0.3%. For instance, this should not affect bread prices at all, while a visit to a hairdresser's could cost 2-3 santims more after Latvia switches to the euro.