May 29, 2023

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Inflation: Hungary controls the prices of basic food items

Inflation: Hungary will control the prices of basic food items


Hungary announced on Wednesday that it would limit the prices of six basic food items from early February to combat inflation.

“We have decided to intervene to control the prices of white sugar, wheat flour, sunflower oil, pork thighs, chicken fillets and semi-skimmed milk,” Prime Minister Victor Orban announced in a video on his Facebook page.

“This means that in every store, they must return to the status quo of October 15, 2021,” he said after his cabinet meeting, adding that he wanted to “protect families.”

Inflation hit its highest level in November in nearly 15 years, reaching 7.4% year-on-year, leading to rising energy prices across Europe.

The government had already decided to control the price of fuel in the fall so that the pump would not cost more than 480 forints (1.35 euros) per liter.

Opposition parties have stated they will not run in the by-elections as Mr Orban prepares for the April 3 parliamentary elections. The controversial leader, who returned to power in 2010, is seeking a fourth consecutive term.

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