Orbán cabinet confident that price margin caps bring down prices

A government-mandated price margin cap has reduced prices on a range of food products at big supermarket chains by 18.7pc, on average, a state secretary at the Culture and Innovation Ministry said on social media on Wednesday.

Róbert Zsigó said the 10pc markup cap had reduced prices of 887 products since its rollout five weeks earlier. He added that the prices of 214 products had fallen by at least one-third. Zsigó said that 522 shops had been checked for compliance so far, and probes were continuing at 132.

Find our reports on the effects of the price margin cap below:

• Hungary’s margin cap backfires: Some food prices surge by nearly 50%
• Purchase limits, rising prices: downsides to the price margin caps in Hungary

Read more about the price margin cap HERE.