Markup cap on household products comes into effect in Hungary
The government has decided to mandate a 15pc cap on markups on household products in 30 categories from Monday to help protect families and pensioners, the National Economy Ministry said in a statement.
Markup cap on household products
Markup cap on a range of food products has been in place since March 17, helping reduce the prices of over 900 different products by 19pc on average, the ministry said.
Monday’s expansion of the markup cap will last until the end of summer and apply to product groups such as laundry detergents, washing-up liquids, paper tissues and shower gels.
The measure applies to drugstores that sell more than 40pc of household goods, such as DM, Rossmann, Müller, Douglas, Azúr, Estee Lauder and Yves Rocher stores. Stores where both food and non-food products are available are not directly affected by the regulation.
The government is continuously taking action against unjustified price increases to protect Hungarian families and pensioners and is ready to intervene whenever necessary. It aims to support economic growth by lowering prices and increasing consumption, the ministry said.
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This is what MAGA people would call … Socialist? Or is it Communist?
brace yourselves, another 2 digit inflation rate is coming…
it seems like Orban and his cronies skipped history class, as price caps and price freezing have been adopted since Ancient Rome, which only had negative results in the long run. when the caps are gone, the price of these products will rise sharply, because they weren’t able to keep the market price when they were frozen.
thank you Orban for destroying the country!!!