Prices of Monitoring Platform Products Fall 7.7%

Retail

Prices of products included on an online price-monitoring platform have fallen by 7.7% on average since the site's 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 compares the daily prices of products in 62 groups at the country's biggest supermarket chains: Aldi, Auchan, Lidl, Penny, Spar, and Tesco.

The ministry said the price of spaghetti had fallen close to 15pc, while vegetable prices had dropped over 14pc on average during the past month. The prices of bread, margarine, and dairy products have declined 10%, it added. 

The price-monitoring platform could reduce food prices by 2.0 percentage points and cut headline inflation by close to 0.7 percentage points, the ministry said.

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