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
The GVH’s latest knowledge-sharing event was about green claims
The Hungarian Competition Authority (GVH) has organized a conference for…
Read more >Billion-dollar market and fragile credibility – this is how Hungarian influencer marketing is transforming
The domestic market for influencer marketing is showing dynamic growth:…
Read more >Only two EU countries have higher inflation than Hungary
The European Inflation Outlook of the Private Banker compared the…
Read more >Related news
An era ends, a new one begins – marketing leadership change at Eisberg
After two years, Judit Gál, the company’s marketing and communications…
Read more >A new era in the global economy? – New challenges for our country
May 2025 brought an acceleration of change in the global…
Read more >This is how you can keep your hair and skin healthy during the approaching summer heatwave
Styling, dyeing and blow-drying can all weaken the internal structure…
Read more >