Margin Freeze Expanded to Non-Food Products
Price Reduction Measures Likely to Extend Beyond May 31
In a recent press conference held in Budapest, Minister for National Economy Márton Nagy announced that there is a significant possibility that the current price reduction measures will continue past May 31. This extension is anticipated to include household goods alongside the existing food products.
Nagy detailed that the ongoing margin freeze, designed to stabilize prices, could be safely lifted if food inflation consistently drops below five percent. Should the government opt for an extension, it is projected to last until the end of summer. The administration is currently contemplating including an additional ten categories of food products under this measure, though they will monitor inflation trends through May and June before making a decision.
In a notable development, the Minister revealed that next week, the government will discuss the potential expansion of price reductions to household goods, toiletries, and childcare products. This initiative will evaluate around 25 to 30 different product categories, potentially encompassing thousands of items.
Furthermore, Nagy mentioned that the government is considering whether to sustain these measures in some capacity, even on a permanent basis. This is in light of similar strategies adopted by several other countries, which have proven beneficial.
Significant Impact of Current Margin Freeze
The margin freeze was implemented on March 17, resulting in significant price reductions for numerous products. Many items have decreased in price by over fifty percent, while dozens have seen reductions exceeding forty percent, particularly within the dairy sector.
As this situation evolves, households are likely to benefit from continued efforts aimed at controlling prices and providing relief amidst ongoing economic challenges.
Featured image via Pixabay
Source: MTI
The post Margin Freeze to Be Extended to Non-Food Items originally appeared on Hungary Today.
