Food price inflation surprisingly high, Orbán cabinet extends price monitoring system
The government is weighing the addition of more products to an online platform that monitors the prices of a broad range of food at Hungary’s biggest supermarket chains, the National Economy Ministry said on Wednesday.
With the addition of fish, coffee, tea, rice, cream, beef, sausage, sweets and cocoa, the number of products on the platform could rise to 100. Launched on July 1, 2023 as part of government measures to spur competition and bring down food price inflation, the platform features daily price comparisons at Aldi, Auchan, Lidl, Penny, Spar and Tesco.
According to 24.hu, based on the latest data, the average food price inflation in Hungary is above 5.4%.
Economic stimulus off to ‘flying start’, says Orbán
The government’s economic stimulus measures are “off to a flying start”, Prime Minister Viktor Orbán said in a video message on social media on Wednesday. “We’re not just making promises, but working and making progress,” Orbán said.
He noted the launch of the Demján Sándor Programme, a scheme to scale up local SMEs, as well as of subsidised credit for young, blue collar workers. He also pointed to some HUF 1,700bn in yields on retail government securities to be paid to over 800,000 households in the course of 2025, adding that they would get HUF 954bn of that amount in the first quarter.
Rather than “fattening up” foreign investors, those yields are going to Hungarian households which is “good for families, good for the Hungarian economy and good for Hungary”, he said. “So starts a fantastic year,” he added.
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