GVH President: Peace would best serve price stability and low inflation

By: Trademagazin Date: 2023. 09. 08. 11:56

An interview with Balázs Csaba Rigó, President of the Economic Competition Authority, was published in POLITICO’s Pro Fair Play Newsletter. The president of the GVH stated: the national competition authorities also have a significant role in the fight against inflation. In Hungary, accelerated sector investigations, or the online Price Monitor, together with government measures, have developed into a real weapon in the fight against inflation. Balázs Csaba Rigó also pointed out that armistice can mostly lead to low inflation.

POLITICO’s editorial office in Brussels conducted an interview with Csaba Balázz Rigó, the president of the Hungarian National Competition Authority. The online media’s Pro Fair Play Newsletter published a summary of the fight against inflation, including an overview of the question of what tools the competition authorities can use to help and strengthen the fight against inflation.

The president of the GVH emphasized that the national competition authorities can take on significant tasks in the fight against inflation, using their own means. He recalled that in the 1990s, the European Commission itself emphasized action against price-fixing cartels in its reports as a competition authority goal that indirectly contributed to the reduction of inflation. While budgetary and monetary policy can provide faster reactions to inflationary pressure, competition policy measures exert their effects in the longer term, but the appropriate competitive environment and effectively acting competition authorities can greatly contribute to keeping prices low by enhancing fair market competition.

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