The World : Hungary Boosts Prices

Hungary’s Communist government announced a series of consumer price increases, including a boost in the cost of meat of up to 22%. Rumors about increases have been circulating in Budapest for several weeks. According to the state-run news agency MTI, the government decreed higher prices for meats and fats, restaurant meals, beer, brandy, refrigerators, electric and gas household heaters and soap. Under the new prices, 2.2 pounds of prime pork, the most popular meat in Hungary, will go up from the equivalent of $2.30 to $2.70. The average Hungarian monthly wage is just under $140 at the current exchange rate.