Been feeling ripped off lately?
You’re not alone – working people are suffering through some of the biggest cost-of-living increases in a generation.From food to petrol to electricity to flights: prices everywhere are skyrocketing. Meanwhile, big business profits and executive salaries and bonuses are going through the roof, and in some cases, outstripping even pre-pandemic levels.
Last year the ACTU commissioned an inquiry into corporate price gouging that was chaired by Professor Allan Fels. The inquiry found that systemic failures in the Australian retail and service market, it also identified several ways big business seek to unfairly profiteer from Australians.
Excuse-flation: using inflation as an excuse to increase price, even when the businesses costs have’t increased.
Drip pricing: advertising a lower price, then ‘dropping’ fees and charges throughout the purchase process.
Rocket & feather prices: businesses increasing prices immediately when costs go up, but dropping them slowly as costs go down.
Confusion pricing: making pricing so complicated that it’s impossible to work out if you’re getting a good deal.
Have experienced unfair pricing practices? Share your story of corporate price gouging – Report a rip-off!
Share your story of corporate price gouging – Report a rip-off!
Report a rip-off
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Tell us where you have seen a company increase prices by more than it needs to