György Raskó: the purchase of basic foodstuffs is also a serious challenge for many Hungarian households

By: Trademagazin Date: 2024. 04. 18. 12:56

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The serious problem of impoverishment is still noticeable among the Hungarian population, say experts. According to agricultural economist György Raskó, even the purchase of basic foodstuffs is a serious challenge for many Hungarian households. According to estimates, 40% of the population kept their expenses to a minimum, buying only the most necessary foodstuffs.

The background of impoverishment is a significant weakening of purchasing power. According to György Raskó, the low level of purchasing power may persist in the long term, and food consumption is not expected to increase either. In addition, the population in general is not expected to spend more on food.

It is difficult to expect a further increase in the food retail price index, given the significant decline in purchasing power. According to Raskó, retail chains that do not take customer behavior and prices into account may lose customers. The price monitoring system of the Economic Competition Authority is also less necessary than before, as the population chooses stores more and more consciously.