Gergely Suppan: the margin freeze has caused prices to drop by as much as 40-50 percent for many foods

By: Trademagazin Date: 2025. 04. 04. 12:42

The price reduction for many food products has reached as much as 40-50 percent as a result of the margin freeze, which seems to be a realistic measure, as there were products where the margin was 80-120 percent, the Deputy State Secretary responsible for macroeconomic analysis at the Ministry of National Economy (NGM) said on the M1 current affairs channel on Friday.

Gergely Suppan said that they will monitor the consequences of the measure until May 31, monitoring price movements, which they can follow on a daily basis from the price monitoring system. If it appears that prices are broadly stabilizing, then perhaps the margin freeze can be cautiously relaxed, but we must definitely wait for the price developments in the coming weeks, he added.

He emphasized:

However, if prices start to rise again, they will prepare for another intervention. Therefore, everything depends on how prices develop in the market, as they flexibly adapt to what is happening in the market.

The host also mentioned that Minister of National Economy Márton Nagy had asked the companies concerned to reduce telecommunications fees, which were given a week’s grace period.

Gergely Suppan said that if this did not happen, they would resort to the institution of a price freeze.

They want to encourage companies to make corrections, but they do not want to bring the various fees to a uniform level due to market competition between service providers, he noted.

The deputy state secretary also drew attention to the banking sector, where the most important thing is that account management fees do not increase to the extent that they have increased since the beginning of the year, as they consider this unjustified.