FAS: PRICE FORECASTING CAN TRIGGER A PRICE SURGE

The antimonopoly body requests representatives of the authorities, business and market experts to abstain from price forecasting

Speculations in the information space regarding prices for particular goods or their shortage can directly drive prices up and result in unreasonable panic demand.

In this context, the antimonopoly authority call upon all representatives of federal executive bodies, business and market experts to abstain from ambitious statements related to price forecasts and possible product shortage.

Price forecasting is unacceptable because it can lead to violating the Federal Law “On Protection of Competition”¹. In particular, market players may exploit the current situation to increase their sales, which can result in fixing and maintaining high prices.

FAS monitors prices for some socially important goods, particularly, food products on a regular basis, and if violations of the antimonopoly law are exposed, FAS undertakes measures of antimonopoly control.

Reference:

¹Part 5 Article 11 of the Federal Law “On Protection of Competition”