The contents of this website are no longer being updated. You can access all the latest Hungarian news in English formerly featured on the Hungary Matters website and daily newsletters at our refurbished mti.hu portal.

The must-have newsletter about Hungary

ECON DEVELOPMENT MINISTER: MANDATORY PRICE REDUCTIONS START IN RETAIL

 

Retail stores will sell certain products at reduced prices from June 1, following a government decree aimed to break down rising food prices, the economic development minister said on Thursday. The measure, aimed to protect families and pensioners and to offset the fallout from the war and the consequences of sanctions on Russia, comes with an online price monitoring system to be introduced in July. The measures are expected to push down prices, increase competition and contribute to the fall of inflation, Márton Nagy said. Under the measure, retailers with revenues above 1 billion forints (EUR 2.7m) will have to offer 20 products of various categories at least 10% cheaper than the lowest price in the past 30 days. The categories include milk, poultry, bread, pasta and fresh fruits, among others.