Food inflation halved in Hungary?

Measures the government has rolled out have cut food price inflation by half from the earlier peak, government spokeswoman Alexandra Szentkirályi said on public radio on Sunday.

Szentkirályi said an online price-monitoring platform featuring food products at Hungary’s biggest retailers had spurred “brutally intense” competition among retailers. Over one million consumers have used the platform since its launch at the start of July, she added.

A probe of compliance with rules on offering consumers regular discounts on food products in a range of categories shows that around 10 percent of shops have violated rules, she said. Fines levied for those offenses add up to 25 million forints (EUR 65,000), she added. Szentkirályi said there was a “good chance” inflation would fall into the single digits by October, well ahead of the government’s initial year-end target.

Portfolio.hu wrote that provided nothing unexpected happens on the global food market, food price rise will decrease and will reach 5-8 pc by December.

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