GVH: the competition authority monitors the processes taking place in the food market

In a statement, the GVH reacted to the January inflation data published by the Central Statistical Office (KSH) on Tuesday, highlighting that annual food inflation rose to 6 percent, and that some basic foodstuffs experienced a significant price increase.

They indicated that the competition authority is continuously monitoring market developments in individual product chains and is ready to intervene in justified cases and support initiatives aimed at lowering prices.

They recalled that at the end of January, Csaba Balázs Rigó, the President of the GVH, sent a letter of request to several interest groups representing producers and processors of basic foodstuffs.

The GVH’s position is that regularly issued price increase announcements may violate fair market competition and increase inflationary pressure.

They highlighted that by using the online price monitor, Hungarian families can save money and time, and the system ensuring price comparability will soon be expanded with new product categories.