Inflation 'On the Right Path' - Orbán
Photo by Ilyas Tayfun Salci / Shutterstock.com
Inflation is "on the right path" and could fall into the single digits even before the end of the year, Prime Minister Viktor Orbán said in a weekly interview on public radio on Friday, according to a report by state news wire MTI.
"The concrete scale [of inflation] isn't the important thing now, but the falling tendency," Mr Orban said in Sopron, where he is heading a two-day cabinet meeting.
He added that the government target to bring CPI down to the single digits by December could be reached "one to one-and-a-half months" earlier.
Orbán noted the importance of maintaining government measures to "thrash" inflation and pointed to the effectiveness of mandatory sales at big supermarket chains as well as a recently rolled-out price monitoring platform.
Hungary's CPI rose 20.1% year-on-year in June, falling for the fifth month in a row after peaking at 25.7% in January.
Orbán said the European Commission's recommendation to phase out Hungary's regulated utility price scheme for households had been discussed at the cabinet meeting with a view to keeping the system in place.
He noted that the scheme saves every Hungarian household HUF 181,000 a month and said the system couldn't be seen "simply as a matter of energy", but as a matter affecting "the standard of living of Hungary's middle class...and poorer people, too".
"Because of that, the regulated utility price scheme must remain in place," he added.
Angela Saliba Appointed New Multi-Property GM of Marriott Hu...
Hungary Welcomes Extension of China's Visa Exemption Policy
Living's Kassák Terrace and Park West 3 Classified as Brownf...
Aldi Opening Biggest Store in Budapest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
