Sweden's competition authority has expressed concern about margins being charged by supermarkets and wholesalers as it probes possible profiteering in a country that saw the largest food price increases in the Nordics this year
Food inflation is a key driver of the cost-of-living crisis in a number of European countries, forcing some to impose price caps on certain food items to help struggling consumers.on hundreds of products from next month after being threatened with financial sanctions if they didn't. Hungary also imposed caps but will phase them out from August.
"The way the margins are developing, it had better be connected to increasing cost, otherwise we might be quite worried," said Mandorff. The agency will request further information from the chains and will publish additional findings later in the year.Sweden's grocery sector is dominated by three main players, making it an "oligopolistic" situation, Mandorff said.
Finance Minister Elisabeth Svantesson called in the three major supermarket chains for discussions earlier in the year to answer for the high prices after which the supermarkets temporarily cut prices on some products.
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