The Hungarian Competition Authority (GVH) is committed to using all available tools to support initiatives aimed at lowering food prices. The GVH's online price monitoring system will soon expand to include approximately 20 new product categories, enhancing its ability to track food prices across the country.

Currently, the GVH is conducting several investigations into food retail chains suspected of price-fixing and misleading advertising. Consumer complaints have led to multiple ongoing proceedings against various retail chains, highlighting the authority's proactive approach to ensuring fair competition in the food sector.

In the first half of 2023, the GVH conducted comprehensive sectoral investigations that revealed some food retailers had raised prices of essential food items more than necessary. Based on these findings, the GVH has made several recommendations to stimulate market competition and curb inflation, including the establishment of the online price monitoring system launched on July 1, 2023.

The price comparison system, accessible at www.arfigyelo.gvh.hu, currently tracks prices of over 2000 different food products across six major retail chains in more than 1200 stores nationwide, covering 78 product categories. The upcoming expansion will further contribute to controlling food prices, with public consultations already underway.

To protect Hungarian consumers while considering the interests of domestic businesses, the GVH continuously monitors market trends in various product chains, such as eggs and dairy products. The authority is prepared to intervene and support initiatives aimed at reducing food prices, ensuring that no anti-competitive collaborations arise among market players that could negatively impact consumer welfare.

In line with this, GVH President Csaba Balázs Rigó sent a letter at the end of January to several interest groups representing producers and processors of essential food items. The GVH believes that regular price increase announcements from these organizations could violate fair market competition, lead to prohibited cooperation, and exacerbate inflationary pressures.

Additionally, the GVH is currently pursuing several competition supervision proceedings against food retail businesses, including investigations into price-fixing and misleading advertising practices. Consumer reports have also prompted multiple complaint procedures involving various retail chains.