Hungary to cap prices of basic foodstuffs

The prices of six basic food items will be capped in Hungary. Prime Minister Viktor Orban has decided to do so in order to fight against galloping inflation, from the beginning of February.

Flour, sugar, oil …

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

“This means that in each store, they will have to return to their level of October 15, 2021,” he said after a meeting of his cabinet, saying he wanted to “protect families”.

7% inflation rate

The inflation rate hit its highest level in nearly 15 years in November, at 7.4% year-on-year, driven by soaring energy prices across Europe. The government had already decided in the autumn to cap the price of fuel, so that the liter does not cost more than 480 forints (1.35 euros) at the pump.

The announcements come as Viktor Orban prepares for close parliamentary elections on April 3, facing opposition for the first time united. Returning to power in 2010, the controversial leader is aiming for a fourth consecutive term.

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