The Hungarian Government will maintain the purchasing power of pensions by increasing them by 2.4%, the expected rate of consumer price inflation next year, the social affairs department of the Ministry of Human Resources stated.

The Government has increased pensions over its past three-and-a-half-year term six times; next year’s increase will affect 2.8 million people, the department said. The increase, together with a reduction of household utility fees, will further increase the purchasing power of pensions. In January this year, the government reduced the prices of natural gas, electricity, and district heating by 10%, and cut water, sewage, waste collection, bottled LPG, sewage removal, and chimney sweeping fees also by 10% in July. On November 1, the prices of electricity, natural gas and district heating will be cut by a further 11.1%.

(Ministry of Human Resources)