Economist: Food prices are guaranteed to make products cheaper
With the food price stop, it is guaranteed that the affected products will be cheaper for the population, Géza Sebestyén, economist at Corvinus University said on the Sunday evening program of channel M1.
According to Géza Sebestyén, the Hungarian government reacted correctly and among the fastest to the increase in consumer prices. Inflation is now worldwide.
He said that the VAT reduction is effective in “normal times”, but when prices rise extremely quickly and companies increase their profit margins, another tool is needed. If the price cannot go above last October’s, it will definitely mean cheaper products for the population, he stressed.
Related news
KSH: industrial production fell by 8.2 percent in June
In June 2024, the volume of industrial production was 8.2…
Read more >In the second quarter, GDP grew by 0.3 percent in the euro area and in the EU on a quarterly basis
In the second quarter of this year, with a seasonal…
Read more >In the OECD, the real income of the population increased by 0.9 percent in the first quarter
In the countries of the Organization for Economic Co-operation and…
Read more >Related news
A new office responsible for food safety and retail trade can be established under the leadership of Márton Nagy
A new top organization called the National Trade Office could…
Read more >K&H: Almost two-thirds of businesses are planning development
The majority of domestic micro, small and medium-sized enterprises, 61…
Read more >KSH: industrial production fell by 8.2 percent in June
In June 2024, the volume of industrial production was 8.2…
Read more >