The government earlier rolled back prices for a number of staples, including pork, cooking oil, and flour, in an effort to dampen inflation. The caps were set to expire on June 30.
Gulyás said the price caps had been "useful", but pointed to forecasts suggesting inflation would fall "significantly" in August to "around 15%". CPI could fall into the single digits by year-end "or even before December", he added.
The government also decided to raise the discount rate for products retailers select for mandatory sales from 10% to 15%, he said.
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