24 January 2023, Budapest - The Hungarian Competition Authority (GVH) consulted with experts of the Institute of Agricultural Economics on the economic background of food inflation within the framework of its series of consultations opened last year.
At the end of last November the Hungarian Competition Authority (GVH) launched a series of consultations to learn about the processes in the markets most affected by inflation and to raise awareness among economic operators of the importance of respecting competition law. In the framework of the series of consultations, the GVH experts recently hosted experts from the Institute of Agricultural Economics to gather information on the market background to the food price increases.
The national competition authority considers food inflation a priority because it affects society as a whole. The Hungarian Competition Authority has therefore set up a special analytical team to identify the causes of price increases that relate to the competition law and to address market problems and distortions using the legal tools at its disposal. The GVH has also started to monitor the international food inflation environment and to examine the practices of the competition authorities of the EU countries.
It is known that the national competition authority is already investigating the food retail market sector and is assessing the signals of the market to establish whether competition law infringements or distortions of competition may be contributing to the outstanding surge in food prices. For that purpose, the GVH has launched its first accelerated sector inquiry in the milk and dairy products market, assessing all actors in the value chain.
Beside the official proceedings already initiated, the Hungarian Competition Authority will continue its series of consultations to map the domestic market conditions, once again calling upon the market players affected by price increases and the associations representing them to arrange for consultations. Interested parties can register their interest with the Hungarian Competition Authority by sending an email to firstname.lastname@example.org
GVH Public Service and International Section
Bálint Horváth, Head of Communication +36 20 238 6939
Katalin Gondolovics, Spokesperson +36 30 603 1170