Minister of Justice Judit Varga and Balázs Csaba Rigó, president of the GVH, discussed coordinated measures against inflation

By: Trademagazin Date: 2023. 04. 14. 12:24

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The Ministry of Justice will also join the working group coordinating the implementation of the online price monitoring database – this was agreed upon by Minister Judit Varga and Balázs Csaba Rigó, President of the Economic Competition Authority, at their meeting on Friday in Budapest. The parties agreed that in order to break down inflation, it is necessary to develop new systems that serve the interests of consumers and contribute to the further increase of transparency and market competition.

The Economic Competition Office and the Ministry of Economic Development announced on March 23 that they will establish a joint working group in order to quickly develop an online price monitoring database and related web application available to the general public, as well as to develop the necessary legal environment.

The parties expect the system to strengthen transparency – in line with the interests of consumers – to contribute to increasing market competition, to prevent overpricing, and thus overall to help reduce inflation to single digits by the end of the year.

The working group coordinating the implementation of the online price monitoring database is already working on creating the legal environment necessary for the system. Experts from the Ministry of Justice will also join this work – Minister of Justice Judit Varga and Balázs Csaba Rigó, president of the GVH, agreed on Friday.