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Report Finds Big Businesses Exploiting Market Power and Driving Up Inflation

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A report by the former chair of the ACCC Allan Fels has analysed price gouging and pricing practices by big businesses. Professor Fels will hand his findings to the government to consider the report's 35 recommendations. Banks, supermarkets, aviation and energy companies are exploiting their market power in ways that drive up inflation and hurt Australian households, according to the former chair of the Australian Competition and Consumer Commission (ACCC). The report by Allan Fels found that rising prices were not just caused by true inflation but often by greed, corporate gouging and "profit pushing" by companies with too much market power.

A report by the former chair of the ACCC Allan Fels has analysed price gouging and pricing practices by big businesses. Professor Fels will hand his findings to the government to consider the report's 35 recommendations. Banks, supermarkets, aviation and energy companies are exploiting their market power in ways that drive up inflation and hurt Australian households, according to the former chair of the Australian Competition and Consumer Commission (ACCC).

The report by Allan Fels found that rising prices were not just caused by true inflation but often by greed, corporate gouging and "profit pushing" by companies with too much market power. Wed 7 Feb 2024 at 2:42am The final question put to Fels is about Qantas and the national interest of having an an airline, and if we allow for "open skies" if it will diminish the "warm feeling" Australians have for their national carrier. Fels says Qantas has spent years invoking and curating its "national carrier" argument, which has given the airline plenty of benefits that we have paid "a lot for

 

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Allan Fels's ACTU initiated price gouging report calls for government to act against exploitative practices of big businessThe former chair of the ACCC takes aim at electricity providers, banks, airlines, supermarkets, and other big businesses in his new report on price gouging and unfair pricing practices.
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