Consumer watchdog finds no evidence of supermarket price gouging

The CCPC said it has not seen any indications to suggest that 'excessive pricing' is occurring in the grocery retail sector as a result of an abuse of dominance. 

Supermarket retailers are set for another meeting with junior minister Neale Richmond over the cost of groceries.

The meeting comes as a report from the consumer protection watchdog has said there is no indication that supermarkets are engaging in price gouging.

The report was compiled by the Consumer and Competition Protection Commission (CCPC) after Enterprise Minister Simon Coveney wrote to the commission, requesting its views on the Irish grocery retail market.

The report states that the issue of higher grocery prices is not unique to Ireland but said while food prices in Ireland remain high when compared internationally, in recent years food inflation in Ireland has been the lowest in the EU.

It acknowledged that recent increases in food prices have caused stress for many families.

The report said governments in some countries, such as Hungary, have intervened by implementing price controls due to food inflation as a result of the war in Ukraine. 

However, the report states it is not clear that this intervention has been effective for consumers.

The CCPC said it has not seen any indications to suggest that “excessive pricing” is occurring in the grocery retail sector as a result of an abuse of dominance. 

It also said it has no comment to make on possible cartel investigations and this analysis is not relevant in that context.

Mr Richmond will meet with the Retail Forum again on Wednesday morning to see what progress has been made on reducing prices for consumers.

He has said the Government wanted to see a drop in prices at a previous meeting, six weeks ago.

“I very much welcome the price reductions by retailers over recent weeks which should contribute to a further easing of inflation and help with the cost-of-living pressures facing customers,” Mr Richmond 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. 

"I look forward to engaging with retailers at the Retail Forum, where I intend to receive updates on their work over recent weeks and hear how they will continue to help their customers.”