Economic development minister: Mandatory price reductions start in retail
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, Marton 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 percent cheaper than the lowest price in the past 30 days. The categories include milk, poultry, bread, pasta and fresh fruits, among others.