NGM spokesperson: prices were already corrected in the last days of January

By: Trademagazin Date: 2025. 02. 11. 12:10

According to the Central Statistical Office (KSH), in January 2025, consumer prices exceeded those a year earlier by an average of 5.5 percent, and consumer prices rose by an average of 1.5 percent in one month. André Palóc, spokesperson for the Ministry of National Economy (NGM), evaluated the January inflation data on the M1 current channel on Tuesday.

He explained that, based on analysts’ and government forecasts, they expected a higher January figure than December’s. It is a global trend that inflation accelerates in the majority of the world’s leading G20 countries in the December-January period, and a rebound in inflation is also visible in neighboring countries, especially in food.

He highlighted that the higher-than-average increase in the price of eggs and milk affects everyone sensitively. Food products make up one-third of the consumer basket, within which the price of dairy products and eggs accounts for 10-13 percent.

André Palóc recalled that the Minister of National Economy also indicated that prices are being continuously monitored. Recently, the minister “ordered” representatives of the largest retail chains.

The spokesperson said that, in justified cases, the possibility of introducing a price freeze could also be examined, and it is necessary to see how the processes develop.

He pointed out that the Central Statistical Office’s data includes prices until January 20, but at the same time, the prices of the last days of January, as well as the online cash register and price monitoring data, show that prices have been corrected.