The government is seeking to ensure the necessary room for manoeuvre through a broader distribution of the public burden, the minister said.Continue reading
The Hungarian government will decide on the renewal of all price caps by mid-June, Gergely Gulyás wrote on Facebook.
This article was originally published on our sister-site, Ungarn Heute.
In a Facebook post, the Minister of the Prime Minister’s Office said that the government would decide on each price freeze individually. He added that they are considered good measures that they would like to keep.
Thanks to the government’s food price cap measures, which have been extended until July 1st, Hungarian consumers are known not to have to pay large sums despite the significant increase in producer prices.
The price freeze came into effect on February 1st, and since then the energy crisis and the Russian-Ukrainian war have played an important role in the rapid price increases in food markets across Europe. The gasoline price freeze was announced by Gulyás on November 11, 2021, and came into effect on November 15. The decree set the price cap for 95 octane gasoline at 480 forints.
Until inflation is so high and does not start to fall, there is no reason to lift the price caps,”
said Márton Nagy, the Minister of Economic Development. The minister expects inflation to fall back to nearly three percent by the end of next year at the earliest.
Sources: Magyar Nemzet, 24.hu
Featured image via Zoltán Balogh/MTI