Hungary fails its test in basic economics
Hungary caps prices for staple foods
The measure by Hungary follows a 40% jump in costs in October
> Budapest has imposed price caps on eggs and potatoes, Reuters reported on Wednesday, citing the prime minister’s chief of staff, Gergely Gulyas.
> The cap was announced after data showed food prices soared by 40% in October, with overall annual inflation exceeding 21%, according to official figures.
> Potatoes and eggs are ingredients for potato and egg casserole, a traditional meal described by newspaper Hungary Today as “one of the most Hungarian dishes.” It is second only to goulash, the ultimate Hungarian dish, according to the website Taste Hungary.
> The government put a price cap on six other food products, including milk and flour, in February to try and protect households from soaring costs.
https://www.rt.com/business/566228-hungary-food-price-caps/
Now those goods will disappear from shelves. Then people will ask why. Maybe someone willl discover a new way to provide for cheap potatoes but I find that exceedingly unlikely.
