Price-monitoring Platform Shaves Over 0.5 pp off CPI

Retail

Image by LaMography

An online platform that monitors the prices of a broad range of food products at Hungary's biggest supermarket chains has reduced headline inflation by more than half a percentage point since its launch by the Competition Office (GVH) and the Economic Development Ministry on July 1, the ministry said on Friday, according to a report by state news wire MTI.

The platform, which features daily price comparisons of products in 62 groups at Aldi, Auchan, Lidl, Penny, Spar, and Tesco, has cut food price inflation by around 1.8 percentage points.

Prices of products on the platform have dropped in 54 product groups, by 6.8% on average. Those declines include a more than 20% drop in the price of eggs and spaghetti and decreases of over 15% in the prices of flour and cabbage.

Lender Liquidity Narrows in May Banking

Lender Liquidity Narrows in May

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

Continental Veszprém Plant Manager Looks to Transform Challe... Interview

Continental Veszprém Plant Manager Looks to Transform Challe...

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.