The Hungarian government implements compulsory discounts on certain products.

The Hungarian government has introduced a new decree mandating compulsory discounts at large supermarkets. Starting in June, certain products will be sold at reduced prices, providing much-needed relief to families and pensioners struggling to cope with the economic fallout from the events that caused problems with higher prices for basic goods. The government hopes that these initiatives will not only lower prices but also promote increased competition within the retail sector.

Under the new regulations, supermarkets with annual revenues exceeding 1 billion forints (EUR 2.7 million) are obligated to offer a minimum of 20 products from various categories at a discount of at least 10% compared to the lowest price recorded in the previous 30 days. This wide range of discounted products encompasses essential items such as milk, poultry, bread, pasta, and fresh fruits, among others.

In addition to the compulsory discounts, the government is planning to introduce an online price monitoring system in July. This monitoring system will enable consumers to compare prices across different supermarkets and make informed purchasing decisions, fostering a more transparent and competitive market.

The Hungarian government anticipates that these measures will not only provide immediate relief to consumers but also contribute to the long-term goal of curbing inflation. By increasing competition and promoting fair pricing practices, the government aims to stabilize the cost of living for Hungarian citizens and ensure greater affordability of essential goods.

The retailers that are affected are required to inform customers about the products on sale (with applicable discounts), and the consumer protection authority will supervise the implementation.