Hungary extends food, fuel price caps

Government

Hungary's government has decided to extend caps on motor fuel and some staple foods, Prime Minister Viktor Orbán said in a post on Facebook on Thursday, according to a report by state news wire MTI.

The caps will be extended until October 1, 2022, Orbán said.

The government also decided to extend a repayment moratorium and a freeze on mortgage rates until December 31, 2022, he added.

The food price caps, set at levels in shops on October 15, 2021, were applied to granulated sugar, BL 55 flour, refined sunflower seed oil, pork leg, chicken breast and back, and UHT cow's milk with 2.8% fat content from February 1. The HUF 480/liter cap on gasoline and diesel prices was introduced on November 15. Both measures were set to expire on July 1.

The government froze rates on floating-rate mortgage loans at October levels for an initial period of six months from January. 

A conditional repayment moratorium for retail borrowers whose incomes have fallen, the jobless, pensioners, and parents raising children was originally set to wind up at the end of June 2022.

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