Australia to Ban Supermarket Price Gouging in Sweeping Competition Reforms
A customer browses a food aisle at a supermarket in Melbourne, Australia.
Photographer: Sarah Pannell/BloombergAustralia will ban supermarket price gouging from July 1 under a new law the government says would protect shoppers from excessive grocery prices charged by major retailers.
Treasurer Jim Chalmers and Assistant Minister for Competition Andrew Leigh said the changes would make it illegal for “very large” grocery chains to charge prices deemed “excessive” relative to their cost of supply plus a reasonable margin.