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Developers Close Price-monitoring Platform Loophole

Retail

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Developers have closed a loophole that allowed supermarket chains to head a lowest-price ranking on a food price-monitoring platform even if their discounts were available in just one or two shops, the Competition Office (GVH) said on Wednesday, according to a report by state news wire MTI.

GVH, which launched the online platform with the Economic Development Ministry in July, said that only prices applied in 80% of a supermarket chain's shops would be eligible for the "lowest price" designation.

The platform has also been updated to indicate the percentage of shops at which discounted products are available, GVH said.The platform, which features daily price comparisons of products at Aldi, Auchan, Lidl, Penny, Spar, and Tesco, has resulted in "cutthroat" competition among big supermarket chains and shaved around half a percentage point off headline inflation, according to government officials.

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