ACCC bursts into headlines cracking down on false discount claims and big penalties in Australia’s market regulator hotseat. (Established 1995)
Australia is experiencing fuel shortages and rising prices due to the conflict in the Middle East and the closure of the Strait of Hormuz. The government has announced measures including halving fuel excise taxes and releasing reserves to support supply, but concerns about inflation and long-term impacts persist.
The ACCC is pursuing legal action against Woolworths and Coles, alleging they have used misleading pricing tactics in their 'Prices Dropped' campaigns. The regulator claims the supermarkets have temporarily inflated prices before reducing them to create false discounts, impacting millions of sales. The case continues in Sydney today.