A report from the consumer protection watchdog has said there is no indication that supermarkets are engaging in price gouging
A REPORT FROM the consumer protection watchdog has said there is no indication that supermarkets are engaging in price gouging.
Supermarket chains have been accused of raising prices excessively during the current cost-of-living crisis.The report said: “The CCPC has seen no indication in this analysis to suggest market failure or ‘excessive pricing’ as a result of an abuse of dominance at this time.” “Conversely, interventions to open up markets and allow competition to flourish have a long track record of benefiting consumers. The situation whereby Ireland has the lowest food inflation rate in the EU did not come about as a result of price interventions.”“I’m very conscious that food prices remain high when compared internationally,” he said.
The report has been published ahead of a Retail Forum meeting tomorrow, which will be chaired by Minister for Business, Employment and Retail, Neale Richmond, who said: “It remains the case that grocery prices are high, and so it is important that retailers continue to pass on the impact of any reduction in input costs on product prices to customers.
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