Hungary is introducing an online price monitoring system to increase transparency and boost competition, the Competition Office (GVH) and the Economic Development Ministry said on Thursday. Economic Development Minister Márton Nagy supported the proposal by GVH chairman Csaba Balázs Rigó to set up the database of prices that can be monitored by consumers, preventing overpricing. The system, initially focusing on food products, is scheduled to come online at the end of June and is expected to help bring down inflation to the single digits by year-end.