Price Caps to Stay Until 30 June in Hungary

  • 21 Apr 2023 7:17 AM
  • Hungary Matters
Price Caps to Stay Until 30 June in Hungary
The government has decided to maintain the current cap on the price of certain products until June 30, the head of the Prime Minister’s Office said.

“As long as there is war and sanctions, there will be inflation”, Gergely Gulyás told a regular press briefing.

The government is committed to reducing inflation to single digits by the end of the year, he said, welcoming a recent central bank statement that the Monetary Council could decide next week to lower the upper threshold of the interest rate corridor as “the first sign that could indicate lower inflation”.

Referring to the war in Ukraine, Gulyás said avoiding the involvement of NATO in the conflict was in the entire world’s interest, arguing that such a scenario would lead to a world war and a nuclear war.

Hundreds of thousands have died in the war so far, and more and more weapons are making their way to the frontlines on both sides, indicating a protracted war for the foreseeable future, Gulyás said.

He said steps that escalated and extended the conflict were “irresponsible” because they posed the risk of a nuclear war. The Hungarian government is unwaveringly on the side of peace, he added.

MTI Photo: Zsolt Szigetváry

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