price gouging

announce, marketing, attention-3192838.jpg announce, marketing, attention-3192838.jpg

The 14 recommendations of a Senate Select Committee inquiry into supermarket prices included several aimed at increasing the transparency of retail grocery prices for consumers. These recommendations included (in Recommendation 9 ) that: The Australian Government amend the Unit Pricing Code made under the Competition and Consumer Act 2010, so that supermarkets are required to:…

Read More Senate Supermarket Inquiry Recommends Grocery Price Transparency

Ian Jarratt of the Queensland Consumers Association in a supermarket with unit price labels in the background

The Queensland Consumers Association (QCA) is calling for the inquiries into supermarkets now being undertaken by a Senate Select Committee, the Australian Competition and Consumer Commission (ACCC) and a Queensland Parliament Select Committee to recommend improvements to the clarity of supermarket pricing. In submissions to each inquiry, the QCA says improvements are essential in order…

Read More Advocates Call For Supermarket Inquiries to Recommend Clearer Pricing

career, paper, origami-1738216.jpg career, paper, origami-1738216.jpg

Australian authorities have never had the power to break up big businesses that behave badly. It’s a power available to courts in the United States and elsewhere, but not here – at least not unless the Greens succeed with a bill now before the Senate. The so-called Competition and Consumer Amendment (Divestiture Powers) Bill would…

Read More It’s time to give Australian courts the power to break up big firms that behave badly

growth, business, businessman-1953662.jpg growth, business, businessman-1953662.jpg

A lack of transparent pricing information caused a poor understanding by consumers of how prices were set. This was significantly worsened by a lack of competition. While market concentration was a major issue, the inquiry found prices in Australia are way higher than in many other less competitive markets.

Large price increases occurred across many sectors.

Read More Supermarkets, airlines and power companies are charging ‘exploitative’ prices despite reaping record profits

magnifying glass, facts, investigate-1607160.jpg magnifying glass, facts, investigate-1607160.jpg

The Albanese Government has announced its intent to have the Australian Consumer and Competition Commission (ACCC) conduct a year-long inquiry into supermarket prices as allegations of price gouging, a lack of competition in the sector and the cost of living crisis continue. According to a joint press release by the Prime Minister, Anthony Albanese MP,…

Read More Government Announces ACCC Inquiry into Supermarket Prices

stop, inflation, man-7241624.jpg stop, inflation, man-7241624.jpg

The Australian Council of Trade Unions (ACTU) has recently announced an inquiry into price gouging and unfair pricing practices to be chaired by Professor Allan Fells AO.

The announcement comes just after the OECD released a research report which found that “historically high corporate profits”, rather than wages, was the leading cause for inflation in Australia. With the OECD suggesting corporate profits may account for an average of 51% of inflation in recent years.

Read More Inquiry into Price Gouging and Unfair Pricing Practices Launched by the ACTU