Price Control in the Eastern European Region
Hungary is the first country in the region and the EU to have recently introduced official price regulation. But Hungary is not the only European country where the government intervenes in market prices. It has been applied in Croatia, Slovenia and Serbia, and Poland has taken a different approach to the problem of price volatility. Despite the fact that, according to economists, price regulation may be justified for a short period of time, it has been used in our country for a long time. Furthermore, in the October 2022 decision, the Hungarian government extended it to additional basic foodstuffs. However, with this decision, the government does not help to reduce inflation, it only covers it up. Read more… (Sebestyén Márk Pella)