The government has extended the price caps because of the protracted war in Ukraine and the sanctions-driven inflation caused by “the flawed measures enacted by Brussels”.
Gergely Gulyás said the freeze on retail mortgage rates, which was set to expire on Dec. 31, will also be extended by at least six months.
The government has decided to restrict the fuel price cap of HUF 480 (EUR 1.19) per liter to privately-owned vehicles, farm machinery, tractors and taxis, at the recommendation of oil...
Prime Minister Viktor Orbán said on Facebook that the price of petrol will remain HUF 480 (EUR 1.2) per litre.
Average car users, or some 40 percent of all motorists, save HUF 13,000 a month thanks to the price caps.
Gergely Gulyás said government measures to control prices had cut inflation by over 5 percent.
“Prices are going up across Europe primarily due to the war [in Ukraine] and will continue to rise until the war is over,” the prime minister announced on Wednesday.
Minister Nagy said he expects retailers to respect the government decree on the price cuts.
The prices of sugar, wheat flour, sunflower-seed oil, leg of pork, chicken breast and milk with 2.8 percent fat will be frozen at their Oct. 15, 2021 levels.