When will food prices decrease in Hungary? Here is what experts say

Food prices are expected to decrease at least half a year later in Hungary than in Western Europe. According to Eurostat data, food inflation in the European Union was 19 and a half percent in February. Meanwhile, it was 47 percent in Hungary.

Drop in food prices will be felt later in Hungary than in other countries

“If the price cap is abolished, there will be a very serious jump, which will probably cause serious disappointment to customers who are hoping that the current sale will be permanent and that these foods will return to a lower price level,” György Raskó told ATV. The decrease will be felt much later in Hungary compared to other countries.

However, Gergely Gulyás, minister in charge of the Prime Minister’s Office, said that they expect that by June-July-August, the decline in inflation will accelerate rapidly in Hungary. In the meantime, Balázs Csaba Rigó, president of the Economic Competition Office (GVH), initiated the creation of an online price monitoring database at the government, with which they want to prevent overpricing and increase market competition, writes promotions.hu.

Read also: Hungarian government deploys new weapon to reduce inflation

Prices are still increasing

The ATV staff bought a food package with the same items they have been buying since autumn. They have been registering and comparing the prices every month. The staff compared the food prices of 10 products and it turned out that the price of two did not change, but the price of eight increased further.

The staff had to pay HUF 2,490 (EUR 6,44) for a kilo of tomatoes in February, and almost HUF 3,000 (EUR 7,76) now. Apples were HUF 349 (EUR 0,90) a month ago, and HUF 399 (EUR 1,03) in March. The price of the twenty dkg pasta did not change, it is HUF 779 (EUR 2,02). The price of eggs did not rise either. A box still costs HUF 1,199 (EUR 3,08).

The price of sour cream, on the other hand, went up by 24 percent, pork parisian by 37 percent, and brown bread by 7 percent compared to the February price. You can buy the 40 dkg butter for HUF 699 (EUR 1,81), the 2.8 percent long-lasting milk for 645 (EUR 1,67), and the 20 dkg cheese for HUF 422 (EUR 1,09).

They paid a total of HUF 6,500 (EUR 16,82) at the end of the shopping trip, which is HUF 400 (EUR 1,04) more than in February.