Price caps not just in Hungary and Poland, but even in Denmark
While the Ministry of Finance predicts inflation will end 2022 at just over 5 percent, food prices are expected to increase twice as fast.
So it is comforting to learn that the Salling Group is placing a price ceiling on everyday basic products such as oatmeal and milk which will remain in place from June 1 until October 28.
100 million loss on milk alone
“The price cap is a guarantee that customers can navigate until the end of October because there are so many prices that have gone up due to inflation,” Per Bank, the CEO of Salling Group, told TV2.
Salling Group estimates the freezing of milk prices could cost it 100 million kroner alone.
According to Danmarks Statistik, consumer prices in April were 6.7 percent higher than the same month last year.