Peru: Indecopi reminds merchants that price rounding must be in favor of consumers for cash payments

On 16 November 2018, the Peruvian Consumer Protection Office (Indecopi in Spanish) stated that in light of the Central Reserve Bank’s (BCR in Spanish) disposition to withdraw the 5 cent coin from circulation starting 1 January 2019, price rounding must always be done benefiting consumers , as indicated in the Consumer Protection and Defense Code.

It also clarifies that trade establishments can consult consumers if they accept rounding by raising the price to the next decimal as long as that surplus is destined for donation. If so, the donation provider must inform which institution she intends to benefit.

Original Source in Spanish
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