The online price monitoring database is in test mode

By: Trademagazin Date: 2023. 06. 06. 13:49

The online price monitoring database will be launched on the first of July. On Tuesday, the working group established by the Economic Competition Authority, the Ministry of Economic Development and the Ministry of Justice – together with the representatives of the Ministry of Agriculture – consulted with the retail chains that will obligatorily join the online price monitoring database. It was said at the meeting: the system is ready for testing. The representatives of the retail companies expressed that they support the launch of the system in every way and will start uploading the data necessary for testing, so that the system can be launched on the first of July.

On March 23, the Economic Competition Office and the Ministry of Economic Development announced that the Government supports the pro-competitive and inflation-reducing proposal of Balázs Csaba Rigó, GVH president, and that they will create an online price monitoring database based on international examples. In order to implement it as soon as possible, the GFM and the GVH created a joint working group, which was joined by the Ministry of Justice in April. The Ministry of Agriculture and the Central Statistical Office also take part in the working group’s activities.

The cooperating parties expect that a database will become available to the public and customers, which will enable them to make a transparent comparison of consumer prices. The use of the price monitoring database thus significantly strengthens transparency, makes different pricing practices known, and prevents overpricing. Ultimately, the service – in line with the interests of consumers – contributes to increasing market competition in the retail sector, and overall helps to reduce inflation to single digits by the end of the year.