The Colombian consumer and competition authority has requested information from a number of companies in order to obtain detailed insight into the criteria used to set prices for their goods and services.
Specifically, the authority has requested information on how final consumer prices are determined, the factors taken into account in price formation, the cost structure used as the basis for pricing decisions, the components of such costs, the margins applied, and the criteria used to adjust, increase or modify prices over time. The request also covers internal policies on promotions, discounts and price differentiation by sales channels or geographic areas.
The authority clarified that this exercise does not amount to direct price control, but rather constitutes an information-gathering measure aimed at understanding how prices are formed in the relevant markets.
Although the request has raised concerns in certain business sectors regarding the scope of the information sought, the authority has reiterated that the purpose of the initiative is strictly analytical and preventive, and does not involve the imposition of prices or any direct interference with companies’ commercial decisions.
