Hungary introduced state regulation of food prices

“Today we decided & nbsp; to intervene in & nbsp; the pricing of six products: sugar, sunflower, wheat flour butter, pork hams, chicken breasts and & nbsp; cow's milk 2.8% fat. This means that the & nbsp; price of these six products should return to the & nbsp; level of October 15 & nbsp; last year. Starting from & nbsp; February, this should be in & nbsp; all stores & raquo;, & nbsp; & mdash; Orban said in a & nbsp; video message posted to his & nbsp; Facebook account.

He noted that the government is resorting to such measures to protect the interests of citizens in the face of rising prices for essential products caused by the energy crisis in Europe.

According to & nbsp; Orban's words, Hungary & nbsp; has already limited the growth of prices for & nbsp; gasoline and & nbsp; is pursuing a policy of reducing utility bills.

A tangible rise in prices for & nbsp; gas in & nbsp; Europe began from & nbsp; April-May, when the average price on a & nbsp; spot on & nbsp; TTF fluctuated in the & nbsp; range of 250 & minus; 300 dollars per & nbsp; thousand cubic meters. In the & nbsp; last days of summer, the cost of a contract with & nbsp; delivery & nbsp; day ahead & raquo; exceeded $ 600, and & nbsp; already in & nbsp; crossed the threshold of & nbsp; 1 thousand dollars in early October.

Such persistently high prices for & nbsp; the entire history of the functioning of gas hubs & nbsp; & mdash; since & nbsp; 1996 & nbsp; & mdash; in & nbsp; Europe was not & nbsp; was. Historical maximum in the & nbsp; futures market & nbsp; & mdash; above $ 1900 for & nbsp; thousand cubic meters & nbsp; & mdash; was reached on 6 & nbsp; October. Experts linked the rise in prices to & nbsp; several factors: low occupancy of European underground storage facilities, limited supply from & nbsp; the main suppliers and & nbsp; high demand for & nbsp; liquefied natural gas in & nbsp; Asia.

Now the situation on the & nbsp; gas market in & nbsp ; Europe remains difficult: after the decline to & nbsp; $ 750 in & nbsp; in early November, prices & nbsp; have exceeded $ 1,000 for more than a month, the filling of European gas storage facilities & nbsp; & mdash; at & nbsp; the lowest level for & nbsp; many years and & nbsp; market participants still fear a physical shortage of gas in the & nbsp; case of a cold winter.



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