The Economic Competition Office continues to monitor food prices
The Economic Committee of the Parliament accepted the Economic Competition Office’s (GVH) report on its activities in 2022 and its experiences related to the application of the Competition Act, the GVH informed MTI on Tuesday.
The competition office achieved 2 billion forints in consumer compensation and imposed a fine of about 3.7 billion forints last year. 101 companies were brought into proceedings, of which 57 were fined, of which only five took advantage of the legal remedy.
Based on the report, GVH’s action against cartels continued in 2022. The authority imposed 80 percent of competition supervision fines due to agreements restricting competition, the majority of which were the most serious, cartel-type violations.
Balázs Csaba Rigó indicated that the competition office is conducting several accelerated sectoral investigations in the food sector in order to explore in detail the underlying causes of food inflation affecting competition law. In addition, the working group whose goal is to create an online price monitoring database is already working.
Related news
HÖOK: the purchasing power of scholarships has halved in four years
Although wages have started to increase, student benefits have not…
Read more >Dark patterns are spreading in e-commerce – and official action against them is also more frequent
Urging, pressuring, hiding costs or “trickling” them – dark patterns…
Read more >Corporate mergers at historic high – GVH works with faster procedures and artificial intelligence
A record number of corporate mergers took place in Hungary…
Read more >Related news
Márton Nagy: the government would introduce margin restrictions for stores selling household goods
The government may discuss on Wednesday and is expected to…
Read more >The Hungarian Food Bank Association is organizing a record-sized food collection on Friday and Saturday
At the Friday and Saturday fundraiser organized by the Hungarian…
Read more >Pick Szeged Zrt.’s profit decreased, but its sales revenue increased last year
Pick Szeged Zrt.’s after-tax profit in 2024 was 6.7 billion…
Read more >