The government has extended the food price freeze until April 30

By: Trademagazin Date: 2022. 12. 13. 14:23

The government has extended the food price freeze until the end of next April due the inflation caused by the sanctions caused by the failed measures in Brussels, said Minister of Agriculture István Nagy.

Price caps work, because customers buy more of the products they can get cheaper

The head of the ministry reminded that due to the failed Brussels sanctions, energy prices and thus also food prices rose to historic heights throughout Europe, and the oil sanctions that came into effect only worsened the situation even further. The government remains committed to supporting families, which is why it maintains the food price freeze.

István Nagy pointed out that the price caps work, because customers buy more of the products that they can get cheaper. Based on the data of the AKI Market Price Information System, more of the products with a price cap were sold this year compared to the same period in 2021. The largest increase of 81% can be observed in the case of 2.8% UHT milk, and in the case of other products with a price cap, the increase in consumption is also greater than 25%. More flour has been sold by 27%, sunflower cooking oil by 44%, chicken breast by 34%, and boneless pork leg by 46% so far this year compared to the same period last year. The increase in quantity may also be due to the fact that customers are stockpiling these products, but the minister calls attention to conscious shopping instead of hoarding.