Márton Nagy consulted with the heads of the product councils
Today, Minister of Economic Development Márton Nagy received in his office the heads of major product councils representing the producers, processors and traders who produce the most important consumer products of Hungarian agriculture. The central issue of the professional consultation was the reduction of inflation and the elimination of inflationary speculation, which requires accurate cost calculations.
![](https://trademagazin.cdn.webgarden.io/wp-content/uploads/2023/04/f07017fc7091ad79f58cbb9f2a5d8b05ce34a16c_fhd_1920_w3h2-300x200.jpg)
(Photo: GFM)
The following organizations took part in the consultation:
• Poultry Product Council and Interprofessional Organization, the Association of Poultry and Egg Producers;
• FruitVeB Hungarian Fruit and Vegetable Interprofessional Organization and Product Council;
• Milk Interprofessional Organization and Product Council;
• Slaughter Animal and Meat Interprofessional Organization and Product Council;
• Seed Association Interprofessional Organization and Product Council;
• Sugar Product Council and Interprofessional Organization.
The war and the failed sanctions policy led to unprecedented inflation across Europe. The energy crisis caused by the war and the resulting increased inflation are causing serious challenges for both Hungarian businesses and Hungarian families. That is why the most important goal of the Hungarian government is to reduce inflation to single digits by the end of the year, protect families, and prevent recession. Inflation has already peaked and started to decrease, the government’s measures are working.
This is how they prevent further price increases
Márton Nagy highlighted that, in cooperation with market and state actors, the Government is constantly looking for tools to further reduce inflation. A new online price monitoring system will be created together with the Economic Competition Authority, and the preparatory work group has already started its work. A consumer protection database will also be set up with the participation of the Ministry of Justice, which will help the public to purchase products at the best price.
By increasing transparency and competition, overall inflation may decrease further. This will be strengthened by the cooperation with the product councils that started today, which can prevent overpricing and inflationary speculation.
GFM
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