In order to lower prices, the government will introduce a new tool from July 1 at the latest: it will oblige food retail chains with significant sales to announce promotions, the government spokesperson announced on Thursday in Kormányinfó.
Alexandra Szentkirályi said: the improvement in the inflation data is already visible thanks to the government’s measures, but the cabinet decided to introduce a new instrument in order to reduce prices after examining Greek and French examples.
Basic foods are divided into 20 categories, such as poultry, cheese or bread, pastries, vegetables, fruit, and cold cuts. The affected commercial units must offer a product of their choice in all categories at least ten percent cheaper than the lowest price experienced in the 30 days preceding the campaign, she explained.
Products must be selected for promotions weekly. The promotion cannot apply to a product with a price stop. The measure is expected to affect food chains with significant sales revenue, it does not apply to the smallest stores, the government spokesperson said.
The price caps in Hungary will remain in place until June 30
MTI
