(Bloomberg) — Denmark, where the Lurpak butter brand originates, will ask its competition watchdog to probe recent price increases to ensure consumers aren’t being fleeced.
Most Read from Bloomberg
Like in most countries across the globe, inflation has skyrocketed in Denmark, bringing the annual rate to 8.7%, the highest in four decades. The Social Democratic government, which faces general elections within a few months, said on Thursday it wants to investigate if consumer prices are rising more than they should.
“We will activate an extensive review of price increases on energy, such as electricity, and consumer goods, such as egg and butter,” Business Minister Simon Kollerup said in a statement. “That way we can bring any unfairness into the light.”
Denmark is joining neighboring Sweden in seeking to ensure companies do not use inflation as an excuse to unjustifiably push up prices, fueling further cost increases. In the UK, higher butter prices recently made headlines after supermarkets added security tags to packages of Lurpak.
Denmark’s Arla Foods amba, the Nordic region’s biggest dairy maker, produces the Lurpak butter brand. In Danish supermarkets, a 200-gram (7 ounce) package of Lurpak costs about 28 kroner ($3.80), up from roughly 20 kroner in the beginning of the year.
Most Read from Bloomberg Businessweek
©2022 Bloomberg L.P.
