Ministry not expecting prices to drop due to low fuel prices

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The National Economy Ministry is not planning on intervening in market prices, as inflation is expected to remain low for the whole year, the Ministry said in response to Hungarian news agency MTI’s query today.

Fidesz faction leader Antal Rogán said earlier that the ministry should look into the reasons why lower vehicle fuel prices had not affected other prices.

According to the ministry, businesses are still recovering from the demand drop experienced during the crisis, and it is likely that these businesses are trying to improve their profitability through lower fuel prices.

The ministry noted that consumer prices had fallen by a year-on-year 1.4% in January, adding that inflation was expected to remain moderate for the entire year.

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