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Hungarian gov't extends price cap on fuel and staple food

Apr 28, 2022

Budapest [Hungary], April 28: The Hungarian government will extend the price caps on fuel and staple food until July 1, Prime Minister Viktor Orban announced on his Facebook page following Wednesday's government meeting.
"Today we had to decide what to do (about the price caps), we decided to extend our price control measures in both cases, so both the price of fuel and the price of selected food products will remain unchanged until July 1," Orban said.
He also said that fuel prices and petrol prices were rising across Europe due to the Russia-Ukraine conflict. "In Hungary, the government is doing everything in its power to protect families from the consequences of rising prices," he said.
On Jan. 12, Orban announced that the prices of granulated sugar, wheat flour, sunflower oil, pork thighs, chicken breast and 2.8 percent milk would be limited from Feb. 1 to May 1, 2022 due to high inflation. The prices of designated products in all stores were brought back to the level in October last year.
The government also fixed the price of petrol and diesel per liter at 480 forints (1.33 U.S. dollars) on Nov. 15 last year, and then extended the price cap from Feb. 15 for three months until mid-May.
According to the latest official data, the inflation rate in Hungary stood at 8.5 percent in March, well over the 3 percent target set by the Hungarian National Bank (MNB). The bank originally forecast a 7.5-9.8 percent inflation rate for this year. (1 Hungarian forint = 0.0028 U.S. dollars)
Source: Xinhua