GFM: since the beginning of July, the price of observed food products has decreased by 7 percent – online price monitoring and mandatory promotions are effective

By: Trademagazin Date: 2023. 07. 21. 12:07

In the period between July 1 and July 19, the average prices of products decreased in 53 out of 62 product categories. In the 62 product groups, prices decreased by an average of 6.7 percent. This can reduce inflation by around 0.6 percentage points and food inflation by 1.8 percentage points, taking into account the weights of the CSO inflation consumer basket, the Ministry of Economic Development (GFM) stated in its statement on Friday.

In the past week, the average prices of 38 of the 62 product categories that must be provided to the online platform have decreased further: the prices of kefir, margarine, spaghetti and green pepper have decreased the most. Looking at the development of food prices, there is an increasing chance that, in accordance with the government’s firm intention, the sanctioned inflation may drop to single digits before the end of the year – emphasized the GFM.

With the professional support of the GFM, the Economic Competition Office (GVH) successfully launched the online price monitoring system on July 1, 2023 – reminded the GFM.