Price-monitoring Platform Shaves Over 0.5 pp off CPI
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.
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