BRUSSELS, July 12 (Reuter) - The European Commission on

Wednesday proposed a new law that would require retailers to list

the price of a product and its unit price.

Unit prices let consumers compare costs directly, for example

by seeing what a product costs per pound (kilo) rather than per

box or can.

"I believe that unit price is the simplest and most effective

means of informing the consumer," Consumer Affairs Commissioner

Emma Bonino said in a statement.

The proposal, which must be approved by member states, grants

small retailers four years from the effective date before they

would have to comply.

Bonino said current European Union law covering pricing

information was complex and provided numerous exceptions.

Under the new proposal, her statement said, "the selling price

and unit price must be unambiguous, easily identifiable and

clearly legible.