Economy Ministry: Authorities step in to protect families against price gouging

The price increases fly in the face of government-mandated food price caps and promotions on certain products which have been subject to an online price monitoring system from June 1, 2023, the ministry said in a statement.

Big retail chains upped retail prices for fine flour, 2.8 percent UHT milk and sugar, among others, the statement said, with instances of a doubling of the price of certain flours. Some milk brands increased by an average of about 45 percent, while the price of granulated sugar went up by more than 25 percent on average, it added.

Whereas as these measures have been largely effective in pushing down inflation, competition office (GVH), has so far scrutinised 3,000 retailers and imposed fines amounting to 650 million forints.

The ministry said it is committed to protecting Hungarian families and has asked to competition office and the ministry’s own consumer protection department to take further joint action against unfair businesses.