The Hungarian competition authority, known as GVH, has expressed its approval of grocery retail chains voluntarily lowering prices on essential food items. This initiative is seen as a way to stimulate market competition and benefit families financially.

GVH is actively monitoring the market to prevent any anti-competitive collaborations among market players. Currently, the authority is conducting several investigations into grocery retail companies suspected of engaging in prohibited price-fixing and misleading advertising practices.

In the first half of 2023, GVH carried out comprehensive sectoral investigations that revealed some grocery retailers had raised prices on essential food items more than necessary. These findings have prompted GVH to advocate for measures that promote competition, including the establishment of an online price monitoring system.

GVH's president, Csaba Balázs Rigó, has highlighted the importance of protecting Hungarian consumers while also considering the interests of domestic businesses. The authority is closely monitoring market trends, particularly in product chains like eggs and dairy products, to ensure fair competition.

In light of ongoing economic policy discussions between the government and the National Trade Association, GVH emphasizes that voluntary price reductions by retailers can invigorate market competition and enhance consumer welfare. The authority is vigilant against any anti-competitive practices that could negatively impact consumer well-being.

GVH is currently involved in multiple enforcement proceedings against grocery retail businesses, including investigations into prohibited price-fixing and misleading advertising based on consumer complaints.