According to the GVH president, it is not illegal for a store to raise the price of some of its products to compensate for the loss due to the price cap
Balázs Csaba Rigó spoke to Magyar Nemzet about how independent authorities also have a role to play in crisis situations. He believes that it is not illegal for a store to raise the price of some of its products to compensate for the loss caused by the distribution of price-capped goods, it is a different question whether it is ethical and fair.
“The introduction of price caps was the government’s response to a significant jump in inflation as an emergency situation. The purpose of the measure is clear, and the timing of its implementation – as we saw with fuels – certainly depends on market conditions. In other words, the step is temporary and fits into the international practice which designates the practical cornerstones of state intervention in various emergency situations. In such cases, a strong and capable state is needed, but in crisis situations, independent authorities also have a role to play.”
– said the GVH president.
Related news
The GVH fined Booking almost HUF 400 million with a record fine
Booking did not fully fulfill its obligations requiring the termination…
Read more >The unexpectedly low inflation in June surprised analysts
The Hungarian inflation data published this week caused a pleasant…
Read more >Food prices rose at an accelerating rate in Germany
Inflation in Germany slowed down in June, according to the…
Read more >Related news
Estée Lauder completes $1.7b acquisition of DECIEM
The Estée Lauder Companies Inc. has finalised its acquisition of…
Read more >Żabka plans to conquer urban Romania
Żabka’s Romanian offshoot, Froo, is targeting two hundred new stores…
Read more >Lidl wins through its ‘breadification’ strategy in the UK
British supermarkets are being criticised for allegedly misleading marketing in…
Read more >