Prime Minister Viktor Orbán has pointed to the need to "put the brakes" on "unacceptable" price increases.

"We won't allow people to be fleeced," PM Orbán said in a video message posted on Facebook on Tuesday.

The prime minister noted that inflation had been brought down in 2024, but prices of some food products had started climbing in January, with flour prices rising around 40pc, egg prices over 30pc, dairy product prices 39pc and cooking oil prices 10-11pc.

PM Orbán said he trusted that an agreement would be reached with supermarket chains on preventing "unaffordable prices", but warned that National Economy Minister Marton Nagy had a mandate to regulate the prices of some products if a deal failed to materialise. If that proves insufficient, profit margins could be capped, he added.