Vol. 553 No. 2
150 Mr. G. Mitchell asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will make a statement on inflation since the introduction of the euro and price controls in view of the concerns of a person (details supplied). [13456/02]
Price control as a policy mechanism has not been pursued by Governments here since the 1980s. It is not effective or appropriate in a modern market economy. Successive Governments have recognised that the promotion of a competitive environment, with greater price transparency coupled with consumer awareness and vigilance, are the best ways of ensuring value for money.
Regulations are in place that require suppliers of goods and services, including retail outlets, to properly display prices. The European Communities (Requirements to Indicate Product Prices) Regulations, 2001 require retailers to indicate both the final selling price and the unit price for foodstuffs and non-foodstuffs. The objective of these regulations is to facilitate consumers in comparing prices between different brands and sizes of products in any given outlet, and between different outlets.
Any evidence of anti-competitive behaviour by suppliers of goods or services, including concerted price fixing, should be brought to the attention of the Competition Authority. It is responsible for monitoring and enforcing competition legislation.
