Márton Nagy: we are fighting against unjustified price increases and price gougers

By: Trademagazin Date: 2025. 03. 07. 11:32

In order to reduce food prices and take effective action against price gougers, Minister of National Economy Márton Nagy held talks on Thursday and Friday with representatives of the National Trade Association, the COOP Retail Chain, and food supply companies, such as Tolnatej Zrt., Alföldi Tej Kft., Bábolna Tetra Kft., Farm Tojás Csoport, Master Good Csoport, Bonafarm Csoport, NT Kft., and Magyar Cukor Zrt. – the Ministry of National Economy told MTI on Friday.

The statement indicated that the Ministry of National Economy expects substantial, voluntary price reductions from retail chains, which can indicate their intentions by the beginning of next week at the latest. If the voluntary price reduction does not lead to results, the ministry is ready to intervene with all its means to protect families and pensioners – they emphasized.

The Minister of National Economy highlighted in the meetings that the government has adopted a complex series of steps to reduce food prices, which consists of three measures: 1.) voluntary price reduction; 2.) official restriction of profit margins; 3.) introduction of official prices. Within the framework of the voluntary price reduction, the Ministry of National Economy expects retail chains to contribute to reducing food prices by reducing their currently applied margins.

Voluntary price reductions are primarily necessary for basic foodstuffs such as milk and dairy products, chicken and pork, cooking oil, eggs, flour and sugar, which constitute a decisive part of the consumer basket of Hungarian families and pensioners.
Retail chains can indicate their intentions by the beginning of next week at the latest. If voluntary price reductions do not lead to results, the government’s next step will be to impose official restrictions on profit margins, and as a last resort, it is ready to introduce official prices, the ministry said in a statement.