Competition authorities in Spain have said last summer’s heat wave, together with increased exports, contributed to higher food prices during the summer, but added they would continue to investigate.
Dramatic rises in the prices of fresh foods helped push consumer inflation up to 3.0% in August, its highest level in four months, reported Reuters.
“Prices fell significantly, back to their previous levels, once the heat wave finished,” Fernando Jimenez Latorre, director general of the Competition Defence Service, was quoted by Reuters as saying.
A competition investigation was launched in October into the reasons behind the sharp rise in fresh food prices. The competition authority said it was now focussing on food retailers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData