Hungarian ministers discuss consumer protection measures to combat inflation

Justice Minister Judit Varga and Economic Development Minister Márton Nagy on Tuesday discussed consumer protection measures aimed at combatting inflation, their ministries said.

In a joint statement, the justice ministry and the economic development ministry said that the Competition Office (GVH) and the government will set up an online price-monitoring platform that would improve transparency and prevent overpricing.

They noted that the government has already implemented 20 measures aimed at pushing inflation into the single digits by the end of the year, including the interest cap on retail loans and the caps on basic foodstuffs and household utility bills up to average consumption.

Thanks to these measures, inflation peaked in January, in line with the government’s expectations, and a disinflationary process is under way, the statement added.

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Source: MTI