Tthere has been much discussion about
inflation and its causes including monetary and
fiscal policy, international factors, wages, supply
chain disruption and war. However, there is hardly
any discussion that looks at the actual prices
charged to consumers, the processes by which
they are set, the profit margins and their possible
contribution to inflation. There is also much discussion about
market power and its harms. But there is very little
discussion of any policies or actions that might be
taken to deal with the main harm: high prices. This inquiry has conducted 5 public hearings,
received over 750 public submissions and more than 20 detailed contributions from academics,
experts, think tanks, unions, businesses, and their
representatives. This report summarises the key policy issues and
draws on the submissions to develop a set of
recommendations on price and competition policy
which, if adopted, would substantially improve
competition and decrease the price pressure faced
by ordinary families.
Authors
- Published in
- Australia