Governments from European countries are trying to mitigate inflation to help hard-hit consumers and companies. A Reuters report that analyses the situation provides an overview for Europe where rising energy prices have led to an EU gas price cap starting February 15, 2023.
According to the Reuters report, Portugal will limit the rise in the regulated price of electricity next year to 3.3% for around 1 million households and small businesses. Other countries that have a price cap on electricity are Germany, the Czech Republic, Slovakia, the UK, France, Poland and Croatia.
Other measures taken by other European countries include a 16% minimum wage increase for next year in Hungary, a 12.5% hike in state pensions from January for Romania, mortgage relief for more than 1 million vulnerable households for Spain, a total of EUR 21 billion next year on energy costs relief for Italy and banning consumer price rises from October 6 for Belarus.
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