Price-monitoring Platform Shaves Close to 0.5 pp off CPI

Figures

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 almost half a percentage point since its launch by the Competition Office (GVH) and the Economic Development Ministry on July 1, the ministry said on Saturday, 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 over 1.6 percentage points.

Prices of products on the platform have dropped in 52 product groups, by 6.6% on average.

Those declines include a close to 23% drop in the price of eggs and decreases of about 20% in the prices of flour, spaghetti, and margarine. The price of bread and dairy products have fallen 8-9% on average and vegetable prices have dropped 13%.

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