Good news for shoppers on mandatory promotions in Hungary: expect even lower prices

Instead of the current 10 percent, grocery stores with a turnover of over HUF 1 billion will have to give a 15 percent discount in the designated categories.

“From 1 August, we will increase the rate of the compulsory promotion to 15 percent and extend it to other products,” Prime Minister Viktor Orbán said on his Facebook page.

The cabinet meeting was held again today at the Carmelite Monastery. There, they reviewed “the latest developments in the war in Ukraine and the diplomatic steps to be taken in the near future to achieve peace and a ceasefire,” Bertalan Havasi, the PM’s press officer, told MTI.

He said that the most important task in the economic field at the moment is to bring down inflation, and Havasi said that the government has decided on effective measures to achieve this, such as the compulsory promotion of shops and the introduction of an online price monitoring system, rtl.hu writes.

The government meeting reviewed the results so far in the fight against inflation and examined what further steps should be taken to achieve single-digit inflation as soon as possible. In May, a regulation requiring food chains to introduce promotions was published. The rate has been 10 percent, rising to 15 percent from 1 August. (It is based on the lowest price in the last 30 days for 20 product categories. However, the announcement suggests that more categories will be added.)

“The government’s new measures will bring down war inflation!” Viktor Orbán added on his social media page.

Featured image: Illustration (Pixabay)