Dávid Hollósi: The price increase may stop, but food will not become cheaper

By: Trademagazin Date: 2023. 02. 19. 12:21

Dávid Hollósi, the managing director of the agricultural and food industry business of MKB Bank and Takarékbank, revealed in a recent interview for Index that the rate of growth of food prices is already within sight, but there is no need to expect a drop in prices.

“The Hungarian agriculture and food industry acquires many raw materials from abroad, which have become significantly more expensive recently, and this has also been reflected in the prices”

he pointed out.

Overheated demand in store traffic also had a price-inflating effect. The population spent less during the coronavirus epidemic, but with the lifting of health restrictions, people returned to the shops. In addition, state subsidies and refunds served as a big splash of fuel in the spending tank. And the money received in this way is always spent first by the population on food, explained the expert.