CPC: The increase in food prices is unreasonably high

The rise in food prices is unjustifiably high. This is the conclusion of the Commission for the Protection of Competition (CPC) after a comparative analysis of the costs of all participants in the supply chain.

The regulator points out that there is a reasonable suspicion of unlawful practices, including by large retail chains, and does not rule out the possibility of covert agreements restricting competition.

The Commission will further check for other non-market factors leading to price increases.

The CPC has launched several unannounced inspections at the offices of companies and their associations related to the production and trade of basic food commodities in the country. The on-site inspection actions are being carried out by CPC officers, with the assistance of Ministry of Interior officers, after obtaining a judicial authorization from the Sofia District Administrative Court.

Copies of documents stored on paper as well as digital copies of documents and correspondence stored on electronic media will be seized from the companies' offices, the CPC said.

The forthcoming detailed analysis of the documents collected will show whether there is sufficient evidence to bring infringement claims against the companies and their associations. Should such evidence be submitted, the defendant undertakings will have the opportunity to exercise their rights of defence. Once the procedural steps in the case have been completed, the CPC will issue a final decision on the proceedings.

Measures to tackle rising food prices: After outlet inspections, when will goods become cheaper?