GFM State Secretary: the government has taken effective measures to reduce food inflation

By: Trademagazin Date: 2023. 08. 02. 12:32

In order to curb inflation, the government has taken a number of effective measures, among other things, it has decided on mandatory promotions and launched the online price monitoring system together with the Economic Competition Authority – said the Secretary of State responsible for economic development and national financial services of the Ministry of Economic Development (GFM) at a press conference in Budapest on Wednesday.

The government assured about 5,000 businesses that they could get out of their extremely high fixed electricity contracts and get electricity at a price of up to 200 euros per megawatt hour. This will relieve the companies involved of a significant burden and improve their competitiveness – he emphasized.

The Secretary of State assessed the expansion of the SZÉP card’s discount frame from 450,000 to 650,000 forints as a significant step, so employers can transfer another 200,000 forints to their employees between August 1 and December 31, 2023. During this period, families can also use the amounts available on the SZÉP cards to buy cold food, he reminded.

Máté Lóga emphasized that the mandatory 15 percent discount on food from August 1st will also help families and reduce inflation.

Increasing the discount limit of the SZÉP card expands tourist demand, and expanding the possibility of use significantly improves the purchasing power of families. The measure is expected to increase consumption, thus helping the food industry, and ultimately contributing to the growth of Hungarian economic performance and the protection of jobs, he concluded.