Shopping reformed: Hungary’s price monitoring system very successful

An online price-monitoring platform launched by the Competition Office (GVH) and the Economic Development Ministry could reduce food prices by 1.5 percentage point and cut headline inflation by around half a percentage point, the ministry said on Friday.

Prices of products featured on the platform have fallen by 5.4 percent on average since its launch on July 1, the ministry said. The platform compares the daily prices of over 1,000 products in 62 groups at the country’s biggest supermarket chains: Aldi, Auchan, Lidl, Penny, Spar and Tesco. The ministry noted that other shops could voluntarily join the platform.

Blikk wrote that because of the popularity of the online price monitoring system the government will carry out developments. Their aim is to make the system more user-friendly. Therefore, they will include new functions, but the news outlet did not share further details.

From 1 July, shopping has changed significantly in Hungary. HERE you may read about the details.