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Inflation-Busting Price Monitor System Up and Running

Hungary Today 2023.07.03.

Arfigyelo.gvh.hu is an online database developed by the government and the Hungarian Competition Authority. The price monitoring system provides consumers with information on the selling prices of individual products, which fall into the categories covered by the price watch system, reports Világgazdaság.

The service, free for anyone to use, aims to provide up-to-date price information. This is the government’s vision to improve consumer information and protection and to enhance competition between the retail chains concerned, which could lead to lower prices.

The database will also provide up-to-date information on price changes, making it easier to monitor inflationary trends,

not to mention making it simple for the authorities to investigate market behavior.

For the time being, only the largest retail chains are obliged to provide data on their prices. These are retailers with a net turnover of more than HUF 100 billion (EUR 27 million) in the previous financial year. This currently applies to the following shops:

  • Aldi Hungary Food Bt.
  • Auchan Hungary Kft.
  • Lidl Hungary Commercial Bt.
  • Penny-Market Kft.
  • SPAR Hungary Commercial Kft.
  • Tesco-Global Zrt.
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The system includes several functions, such as product and map searches.

The price monitor records the gross daily price, the historical price, and the regular customer price of the product per trader and per shop.

It is important to note that the data is always provided by the trader and is updated daily in the system. The ranking, available on the website, is based on unit price/price per item, with the list showing the cheapest unit price to the most expensive.

If you find that the price of a product is actually higher than the price shown in the price monitor, you can complain. You should submit evidence (photo, copy of the entry in the buyers’ register, etc.) to the competent government office of the capital or county where the shop is located.

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Via Világgazdaság, Featured photo via Pixabay

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