NGM: The range of products monitored in the online price monitor may be expanded to 100 products

By: Trademagazin Date: 2025. 01. 22. 12:23

The development of food prices is of paramount importance to families, which is why the government will continue to take decisive action in the future to ensure affordable basic food, the Ministry of National Economy (NGM) emphasized in its statement on Wednesday.

It was recalled that the government had previously introduced several measures to reduce inflation caused by the war and energy crisis, including a food price freeze, mandatory sales, and an online price monitoring system.

These measures have proven to be effective tools, thanks to which food inflation has practically decreased to 0 percent by the first quarter of 2024.

According to the latest data, food inflation exceeds 5 percent. International factors (increase in the price of raw milk and grain) play a role in this, but we also experienced a significant increase in retail margins for some products.

In order to protect families, keep inflation at a low level and strengthen retail competition, the government has been operating one of its most successful tools used to reduce inflation, the online price monitoring system, since July 1, 2023.

Thanks to this, consumers will also have the tool at their disposal in 2025 to conveniently compare where it is most affordable to shop – even from their mobile phones.

The effectiveness of the price monitoring system in reducing inflation was also proven by the fact that in the first 3 months after its launch, average prices in 56 of the initial 62 product categories decreased by an average of 6.7 percent.

It was highlighted that the goal of the price monitoring system in the future is to make the prices of the largest domestic store chains transparent for consumers by displaying the daily selling prices of the most popular foods, thus increasing market competition and keeping food prices low.

When the price monitoring system was introduced, it generated extraordinary competition among store chains, and based on the recent development of food prices and user feedback, it emerged that it would be advisable to strengthen competition across an even wider range of foods.
Visszajelzés küldése