This contribution addresses the dilemma of retail price regulation on the consumer market in the economic realities triggered by the COVID-19 pandemic. It discusses the reinvigoration of discussion over price control that ensued in numerous countries as a result of the rapid increase of prices of certain goods (such as medical products and everyday-use utensils). It attempts to preliminarily frame the underlying policy premises of price regulation triggered by the pandemic. It also seeks a more in-depth understanding of the rationale of price review in the extraordinary market conditions, as well as the general rules for allocation of tasks in this regard between public and private law. In so doing, the text focuses primarily on the EU consumer law and attempts to understand what concept of price control it rests on and to what extent it may provide a response to the price concerns in the outcome of COVID-19.

COVID-19 AND PRICE SURGES: MAPPING THE PHENOMENON

The immense and rapid consequences of the coronavirus pandemic triggered for the global economy elicited profound market fluctuations and drew rather gloomy prospects for the post-pandemic realities. One of the most immediate spheres which experienced almost immediate and conspicuous change after the pandemic outbreak were retail prices on the consumer market. Even before the strict health measures were introduced, the spreading awareness of the incoming pandemic resulted in a prompt surge of prices for several everydayneed products, which proliferated even further in the course of the lockdown. The rise of prices in the era of the pandemic was elicited by a rapidly growing demand for particular types of goods and services and an increase of manufacture and supply costs. In this way, the COVID-19 pandemic led to a new incarnation of the age-old concept of “economy of shortage”. In the circumstances of the pandemic, the economy developed several insular shortages of supply, which led to a noticeable surge of prices for particular products. This pertained especially to medical supplies (especially of an everyday use, such as face masks, gloves and disinfectants), as well as for some food products and other basic goods.