Facebook statement by Prime Minister Viktor Orbán

In recent days we have held talks with representatives of retail chains, in order to curb unjustified and excessive price increases. Unfortunately the offers made by the retailers have fallen far short of our expectations, and so we have had to make the decision to introduce measures in the retail sector. From mid-March onwards, the profit margins on 30 basic foodstuffs must not exceed 10 per cent. Recently these margins have been 40 per cent on eggs, and more than 80 per cent on butter and sour cream. Let’s face it: this is unacceptable! For all food products on which the margin has risen sharply, prices must be reduced so that the price to the consumer does not include a retail profit of more than 10 per cent. We shall be monitoring this. These measures will be introduced in mid-March and will remain in force until the end of May. We will review them then, and extend them if necessary. We shall put an end to excessive and unjustified price increases.