GFM: since the start of the price monitor, the average price of food has decreased in 52 product categories

By: Trademagazin Date: 2023. 10. 27. 13:38

Since the launch of the online price monitor, the average price of monitored foodstuffs has decreased in 52 product categories, the Ministry of Economic Development (GFM) told MTI.

In the announcement, it was recalled that, with the professional support of the GFM, the Economic Competition Office launched the price monitoring system on July 1, which has been supporting the “breakdown of inflation that has increased due to the war, sanctions and price speculation by multinationals” for almost four months.

The platform supports more conscious purchasing decisions of families through the comparability of prices, while increasing competition between retail stores, they underlined.
They wrote that the results are clear: the sanctioned food inflation has already been reduced by a third by the government.

According to the announcement, the effectiveness of the price monitor is proven by the fact that, since its launch, the average prices of 52 of the 62 product categories have decreased by an average of 6.6 percent.