Inflation decreasing but another wave of price rises to come this summer in Hungary
Although slower than expected, inflation in Hungary is also clearly decreasing. In addition to the moderation in world prices, the significant fall in shop sales also points towards a more moderate price level. However, a new wave of price rises is expected from July.
From July, it is not only the abolition of price caps of food that could bring further price rises in Hungary. Once again, a major global inflationary surge is looming, triggered by a surge in world sugar prices not seen for more than a decade, napi.hu warns.
While many believe that the improving inflation figure will be accompanied by a broad-based fall in consumer prices, this is not the case. The price level, which has now caused a significant fall in demand and a long-unprecedented fall in retail sales, is set to be permanent. The burden on the population can only be eased in the long term by wage increases and hence by an increase in purchasing power.
Official prices are the main reason for the EU-record inflation in Hungary
Prices of food commodities and the main agricultural products have been falling on the world market for months, with consumer prices still less affected. However, there are increasing signs that we cannot calm down. The risk of another global price explosion remains high.
Grocery stores are being forced to act because of falling retail sales, while the purchase price of products with official prices (price caps) has long been much higher than the selling price. As a result, operators are having to absorb heavy losses. The whole product sector holds the price caps responsible for Hungary’s record-breaking inflation in Europe, napi.hu writes.
New wave of price rises to come?
From July, the government is expected to phase out the price caps for real. They will be replaced by compulsory price reductions from June and a price monitoring system to support market competition from July. The lifting of price freezes/official prices in July will lead to more moderate price increases than if the move had been made a few months ago. However, the re-pricing of fixed-price products will still be a major burden.
Decade-long record-breaking price boom could be repeated
Among the official-priced products, the rise in the price of granulated sugar could be dramatic. World sugar prices have not been as high or risen as fast as in recent months for more than a decade. Rising and sustained high sugar prices, just like energy and cereal prices, could lead to another unprecedented rise in food prices.
If the price of sugar rises, the price of substitutes to replace it, which are already much more expensive, will also rise. A global sugar price explosion would affect all food products. The extent of the price increase is not yet foreseeable, but all the signs point to a much higher price level.
Falseness in the comment of DECREASING Inflation in Hungary.
This type Government driven propaganda – that is reflective of a Government, through Orbans directorship, driven us as a country into the “valley of the un-known” is APPALLING.
If Orban prior to February 2020 – had LISTENED to REAL experts taken on board ALL the WARNINGS Orban was being given, that his course direction Financially & Economically he had set Hungary upon, was DANGEROUS, that it had no FACILITY to back away with-draw from – if the ECONOMY hit an “un-known” disaster or challenge, the Orban plan would see Hungary financially stressed into an horrendous disastrous and collapsing position.
What happens ?
February 2020 – the arrival of the Coronavirus Pandemic.
2022 – commencement of Russia’s War on the Ukraine.
Orban – set the course over 14 years in Government as the Head of Fidesz – the Prime Minister of Hungary, that he Orban on his shoulders which he can NEVER escape bearing the ramifications of what still is a nadir, the state of Hungary’s economy where it is going to end, the blackness of the BIG black hole.
Orban was WARNED the FRAGILITY the extreme HIGH risks he was taking Economically & Financially prior to February 2020 but he Orban “soldiered on” – his self opiniated arrogant DNA – perceived image of a “Demi God” – destroying relationships, membership of the European Union, NATO – the United States of America, Great Britain & Ireland and Globally all countries that are governed under DEMOCRACY.
Orban at the expense to the quality of life of us in our millions Hungarians fighting for our personal, our families our children’s SURVIVAL – that continues to CHALLENGE us in growing numbers – we Hungarians have been Used, Abused and Disregarded/Forgotten – at the expense of Orban – in his pursuit to dismantle Hungary, break us away from DEMOCRACY – into a Dictatorship regime, likened to Orbans closest of friends – being Russia and China – both ruled under a Communist Dictatorship Governments.
Hungary – through Orban – the disappearance of DEMOCRACY continues.
Inflation in Hungary is NOT in Decline nor under control.
Financially & Economically – we as a country are a SHAMBLES, that see’s us either being Insolvent or nearing that cataclysmic position.
The forint – value and future soon to be AGAIN sent deeper into a place, that will need decisions made to go Euro or be a “joint” currency functionality forint/euro.
The Real Estate and Property Markets – the “scene” of a likened carnage drama.
We build on Hotels, which Budapest, Hungary has an OVER-Supply of – apartments, flats housing , storage facilities – Insane.
Hungary – our population in DECLINE – statistically fact we know, that deaths yearly of Hungarians over the past decade have outnumbered new “little one’s” being born.
We as a country Hungary – are an AGEING Society, void of youth, void of having the “guts” of our population of 9.6 million – the “mean” age that can produce “little one’s” – to build the Hungarian, true blood line DNA Hungary.
The entire infrastructure of Hungary – through the Orban failed PLAN(S) – is SHATTERED, in total disarray.
WHY ?
The Orban Government has NO Money to Invest.
The Orban Government 14 years in POWER – never undertaken plans to build the Capital of Hungary.
No Capital – provision to Invest as a Government leaves just one other alternative, which Orban has USED – to BORROW funds, in Hungary’s case MASSIVELY from China & Russia.
Borrowings – adds on and on to the Debt just not of Hungary, but us its Citizens that through our taxes we pay for the DEBT incurred by Orban and his Government.
Education, Hospitals – all Health services under the PUBLIC needs of a Society, paid for out of our taxes – the FAILINGS of PRIORITIZATION of Orban and his Government, places us remaining over-all operating decades behind other European countries in the Quality of Services – provision of SERVICES – that are NEEDS of a Society in the 21st century and NOT operating likened to 19th century or “Third” world countries standards.
History NEVER Lies.
U-tube it and LISTEN to Orban “mouthing” his Creed – his Dogma – from the podium in 1989.
August 1989 – Orban took to the micro-phone – in Hero’s Square – the Wall had rightfully been FELLED.
Orban “pontificated” to all of Hungary, reaching out and across Europe, the Global World, that Communistic rule and governance of Hungary endured 1945 to1989 by us Hungarians – was DEAD a thing of the past.
Singing the Praises the way of our Future was being a DEMOCRACY – our Liberty, Freedom and Independence – the ability of freedom to vote for WHO we Hungarians wished to be the Hungarian Government.
Orban – his words – from his MOUTH – recorded in History – August 1989 that DEMOCRACY was as a country our FUTURE.
“I rest my case” – what have we in 2023 and been witnessing over the x2 times Orban has been Prime Minister of Hungary – what are we LIVING in ???
Greed & Selfishness and Exploitation – the abuse, disrespect afforded – the treatment of millions of us Hungarians by Orban and his Government – there “Palms” oiled and greased – pockets THICKENED at our EXPENSE,
What is going to bring about Stability – Stabilization to the Hungarian Economy ?
What is going to return our lives to a degree of NORMALITY/
Don’t BLAME the Coronavirus nor the Russian War on the Ukraine – as a MAJOR reasons of the SICKLY state of our country.
Orban’s path, his roads, his direction – through his Creeds and Dogma – Political Ideas and Philosophy- focus on what we voted for – what we by appointing Orban as Prime Minister – what we “signed off” on, that in MASS part is of our doings – of our OWNERSHIP – we live in Hungary this day, and into the FUTURE.
Hungarians in our MILLIONS – we have been DECEIVED – and the deception we continue to allow live with and in, that see’s us as a country, in an over-all PERILOUS position.
Saint Pope John Paul 11 – Hero’s Square – 1991 – his first visit to Hungary, words of Wisdom, spoken to ALL of Hungary, sitting in the front row at the Pontifical Mass – the VIP area – Victor Orban.
“Be Mindful of the Blessings, which you (Hungary) have Definitively secured – means for your Future.
Cherish it and make Good use of your Liberty.”
Did Orban say AMEN ?
Orban – its ALL culminating in him exposed witnessed for ALL and sundry to SEE – the HYPOCRITICAL person individual – could be betrayal of TRUST to the millions of Hungarians – that is HIM.