MNB will use all means to restore and maintain price stability, György Matolcsy stressed.Continue reading
Hungarian inflation was 26.2 percent in January, two and a half times higher than the EU average, 24.hu news portal reports, citing data from the European Union’s statistical office (Eurostat).
According to the article, while Hungarian inflation was comparable to that of the Baltic states in 2022, the trend changed in October last year. While Estonia, Latvia, and Lithuania managed to reverse the trend, the situation in Hungary has not improved.
According to 24.hu, Hungary’s inflation was also high in January compared to other EU countries in the region.
In his state of the nation speech last week, Prime Minister Viktor Orbán said that “2023 will be the most dangerous year since the fall of communism, alongside migration, which is gradually becoming a permanent feature, two new enemies and two new dangers are lurking: one is war, and the other is inflation.”
If we want to fight inflation, we must start with understanding. Why is there inflation all over Europe? Brussels has unleashed this affliction on us, with its sanctions on energy. The disease is called sanction inflation and the virus is the Brussels sanctions,”
Orbán said. “Inflation is like a tiger, and you only have one bullet. If you miss, it will eat you up. Please trust us, we will hit it. You can bet on it: by the end of the year we will have inflation in the single digits,” he added.
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