Starting 1 June, a mandatory discount programme has been launched in commercial stores to curb the rising food prices caused by war and sanctions. This is another government measure to protect Hungarian families and retirees. Customers can expect price reductions in 20 product categories in grocery stores, confirmed Minister of Economic Development Márton Nagy in a statement on Thursday.
Regarding the price reduction, he emphasised that the government’s goal is to reduce the sanction-induced inflation to a single digit by the end of the year. The measures already implemented are working, as inflation has peaked and is on the decrease. The compulsory discounts, along with the online price monitoring system launching in July, will significantly contribute to further reducing inflation throughout the remaining part of the year by decreasing prices and intensifying competition.
From the customers’ perspective, the most important aspect is that they will have access to a discounted food selection consisting of 20 products every week in the respective stores, which people can purchase at much lower prices compared to the previous month. The newly implemented regulation applies to retailers with annual revenues exceeding one billion forints, requiring them to announce sales in 20 product categories on a weekly basis. Examples of such product categories include poultry, milk, sour cream and substitutes, cheese, bread, bakery goods, dry pasta, rice, other cereals, fresh fruits, and fresh vegetables.
In the affected stores, it is necessary to sell one freely chosen good from each designated product category at a price that is at least 10 per cent lower than the lowest price applied in the 30 days preceding the obligatory action.
The statement noted that the affected retailers have made the necessary preparations and are prepared for the launch. The government encourages everyone to take advantage of the benefits provided by these measures. Retailers are required to inform customers about the products on sale, and the consumer protection authority will supervise the implementation, Márton Nagy concluded in the statement.