Estonia’s Consumer Protection Board said U.S. fastfood franchise McDonald’s Corp. may have used the Estonian changeover from kroon to euro as a cover to raise prices, according to a report from the BNS news agency Monday.
The Consumer Protection Board told BNS that it has opened investigations against a total of seven companies concerning price increases, which may have occurred under the guise of the euro changeover on Jan. 1.
The authority said it has requested explanations from the companies concerning the suspected price increases.
“Some [ of the companies ] have already responded, but they need to provide additional documents,” said Hanna Turetski-Toomik, spokesperson of the Consumer Protection Board.
Estonia, which joined the European Union in 2004, was the 17th country to adopt the European common currency.
