Unbelievable: Egg prices drop dramatically in one day in Hungary

According to the Price Monitor (Árfigyelő) that was launched on 1 July, the lowest price of eggs in packs of 10 was HUF 63 yesterday. Today, it has fallen to HUF 45 per piece. This means that the price of eggs has fallen by almost 30 percent in a single day.

When contacted by Index, the Hungarian Competition Authority (GVH) reported that the price of eggs had fallen by HUF 18, or 30 percent, in one day.

The government has taken a number of measures to try to bring down inflation. First with price caps, then with mandatory promotions, and more recently with the online price monitoring system. Experts say that the price monitoring system operated by the Hungarian Competition Authority will make a significant contribution to lowering prices and bringing inflation down.

According to the Price Monitor, the price of eggs has fallen by almost 30 percent in a single day. The Competition Authority said that this shows that the price monitoring system will continue to “protect Hungarian families from price rises after 1 August and contribute to the continuous reduction of prices, thereby helping to reduce inflation“.

In response to a query from Index, the Competition Authority said that the price monitoring system available at arfigyelo.gvh.hu is still widely used. According to the latest data, the number of unique visitors has already exceeded 750,000, who have downloaded and interacted with the site some 52 million times.

As we reported, the price cap scheme in Hungary ended today after 17 months. The Orbán administration wished to communicate that they continue to help Hungarian shoppers after the food price cap scheme’s abolishment, particularly with increasing the extent of the mandatory promotions from 10 to 15 percent.

Featured image: illustration (Pixabay)