Are companies using high inflation to illegally raise prices? The Bundeskartellamt is investigating this suspected theft several times!
“We see sectors where prices are rising very consistently – sometimes by the same percentages,” said Germany’s top inspector Andreas Mundt of “ “(HE DOES).
In the shadow of high inflation, he believes, companies across industries may have conspired to raise prices in a coordinated fashion – higher than they otherwise would have otherwise. That would be a clear violation of competition rules.
Mundt: “We are very close, and not just watching. It may be that the process will follow, ”said the head of the Cartel Office.
Germany’s top competition controller: Cartel Office chief Andreas Mundt (62)
Photo: photo alliance/dpa
What industries are you talking about?
It is unclear – why Mundt expressly declined to name names.
︎ But emphasized that these were NOT gas stations. His authority only recently examined them – finding no evidence of illegal thefts (the refineries have also been placed under systematic surveillance since then).
︎ The cartel office is already taking action against energy suppliers: investigations are underway against gas and district heating suppliers.
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︎ Does his suspicion of theft fall on supermarkets? Best not. “In food retail there are four large retail chains, but there are also some very strong manufacturers”, says Mundt. “Consumers can choose from different retailers and a variety of products.”
However, “we watch what is happening very carefully and ask questions if we notice price extremes. We’ve been very active under the radar,” he says.
Cartel Office is “full of steam”
Its authority can hardly keep up with processing reported suspected cases, Mundt said: “The cartel process is full force here.” .
Another problem: Discovering price agreements is becoming increasingly difficult, the chief official explained, and the cartel office will also upgrade its technology.
“The cartels are not so obvious anymore. Some things are just better veiled,” he said. Suspicious emails, for example, are rarely found. There has long been a particularly protected digital communication between the companies involved.
What the Cartel Office counts on when prosecuting illegal agreements: internal whistleblowers. A new law (which will take effect in early July) hopes to attract more whistleblowers.