Online price monitoring may expand

By: Trademagazin Date: 2025. 02. 21. 11:56

In order to protect families, keep inflation low and strengthen retail competition, a social consultation will start on Friday on the expansion of the online price monitoring system to 100 product categories, the Ministry of National Economy (NGM) told MTI on Friday.

The online price monitoring system may be expanded to include products such as fish, coffee, tea, rice, beef, bread rolls, cocoa powder and other dairy products, among others. The price monitoring system will continue to serve the purpose of making the prices of the largest domestic chains transparent by publishing the selling prices of the most popular foods, thus helping consumers make more informed purchasing decisions.

The government is constantly monitoring the development of food prices and is ready to intervene immediately with all available means if necessary

– they wrote.

According to the statement, it is of utmost importance for the government that Hungarian families have access to basic foodstuffs at affordable prices, and to this end, it launched the online price monitoring system on July 1, 2023, which has proven to be one of the most successful tools in reducing inflation. The introduction of the price monitor resulted in significant competition in the retail sector, which contributed to the reduction of food prices.

In the first three months after the launch of the price monitor, prices decreased in 56 of the initial 62 product categories, by an average of 6.7 percent.