Consumer prices rose by an average of 8.3% in February. This is the highest inflation rate since August 2007. Compared to January, prices increased by 1.1%.

The government has now also introduced a cap on wholesale fuel prices at 480 HUF/liter (1,27 EUR/liter). The reason given was that the petrol station leaseholders should still not be expected to sell petrol and diesel below the purchase price.

Since March 1, the mobile phone company Telenor Magyarország has been operating under the name Yettel Magyarország Zrt. The new brand name was also introduced in Serbia and Bulgaria.

Hungary has taken in 120,000 refugees from Ukraine. Hungarian society was gripped by a wave of solidarity; in addition to numerous civil organizations and government agencies, many citizens also help to support the victims of the war.

Magyar Telekom (MT) has monitored its entire network infrastructure along the Ukrainian border over the last few days, and replaced batteries where necessary to ensure operation in the event of a power outage and expanded its capacity (e.g. a new mobile station) to to cope with the extra demand.

Wizz Air, a discount airline with Hungarian roots, is providing Ukrainian refugees 100,000 free seats. These can be used for flights departing from Poland, Slovakia, Hungary and Romania to European destinations.

The European Single Resolution Board has opened liquidation proceedings for Sberbank Europe AG, the parent company of Sberbank Hungary.

With an investment of  HUF 70 billion (EUR 184 million), the US medical technology company, Becton Dickinson is creating 300 new jobs in Környe. The government is providing state subsidies of HUF 4.4 billion (EUR 11,5 million) for this purpose.

The Danish furniture company, Jysk is building a new logistics center in Ecser (next to Budapest). The investment volume amounts to 200 million euros and is being built on a 143,000 m2 area.

The Baolong Group – one of China’s largest automotive suppliers – is building a greenfield site in Szigetszentmiklós (south of Budapest).