On the scene
The Competition Authority is currently undertaking an information gathering exercise which aims to
Analyse the impact of adverse external conditions on
price increases in key markets. As is well known, in recent quarters
faced with disruptions in the supply chain, product shortages, longer processing times on
imported goods and the price increase of raw materials. Are these, among other things, the consequences of changes to
demand during COVID-19 and in recent weeks, the consequences of war
Russians in Ukraine.
This development has been accompanied by a discussion about the need for
significant price increases, which have to some extent already materialised. On
In contrast, the good performance of many companies has been pointed out, as well as a strengthening of
The króna's exchange rate has counteracted the need for price increases on imported goods.
The Competition Authority's information gathering is directed at
first of all, the development of margins in the grocery market, the fuel market and sales
building material. The work aims to identify potential competitive advantages in
the relevant markets.
At the request of
The Minister for Culture and Commerce compiled a memorandum for the Competition Authority on
the inspection earlier in the month. The memorandum is available here.
The above-mentioned
Data collection is well advanced and data processing is underway. The Competition Authority
will provide a more detailed account of the investigation and its findings when they are available
for.
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