NGM: we are fighting against unjustified price increases

By: Trademagazin Date: 2025. 03. 11. 12:07

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The government is constantly working to make families’ money worth more and to be able to manage more. The government is therefore monitoring the development of prices, especially food prices, and is ready to intervene immediately – the Ministry of National Economy (NGM) emphasized in response to the latest inflation data on Tuesday.

The announcement quotes that in February the increase in food prices exceeded 7 percent, which is a significant burden for the Hungarian population, especially families and pensioners. According to the Central Statistical Office (KSH), prices increased by 5.6 percent on an annual basis in February 2025, and by 0.8 percent compared to the previous month.

Based on February data, food prices increased by 7.1 percent. The government aims to protect families and pensioners, so it is doing everything it can to prevent unjustified price increases and reduce the price of basic foodstuffs. Keeping food prices low is a common interest.

The statement highlighted that the government has developed a complex three-step action plan against price hikers: the first step is voluntary price reduction, the second is the official restriction of profit margins, and finally the third is the introduction of official prices.

Beyond all this, the government decided to expand the online price monitoring system and refund VAT to pensioners. In order to ensure affordable food prices and strengthen retail competition, the government is maintaining and further expanding the online price monitoring system, which will help families compare where to shop for the best deals.