The Minister of Agriculture told the truth about the rise in food prices – this is what awaits us in 2023

By: STA Date: 2022. 11. 30. 11:55

Consumers are affected by the continuous increase in food prices, many people buy less than before. However, the words of Agriculture Minister István Nagy about food price caps shocked everyone.

(Photo: Pixabay)

The Minister of Agriculture told Inforadio what could stop the further rise in prices and whether food prices can be expected to drop to pre-war levels.

“I don’t think the pre-war prices will come back because the world will be in a different state when the war is over. But I am 1000 percent sure that the increase will not be that big, so normal inflation will occur in the food market as well, just like in other areas of life. We are at the “ceiling” of price increases, there is nowhere else to go, since the rise in energy prices has already stopped and we also know the level of input costs. – said the Minister of Agriculture on the radio program and emphasized that prices will continue to increase to a lesser extent in the future. He explained that such large-scale price increases are not expected now, because energy prices are already at their peak, so there is no reason for huge price increases of 10, 20, 30%.

István Nagy also expressed his opinion about the price cap

“We hope that this will end, I think that this should end sometime in the middle of next year, since the war cannot last forever. Thus, all the effects that occurred as a result of this should end next year, and then it should be possible to return to normal market conditions.” – said the Minister of Agriculture.

Inforadio