Public concern over coronavirus 'price gouging' has
continued to grow, with the pandemic creating shortages of
essential groceries and medical supplies. Generally, the law allows
prices to be set based on market forces of supply and demand, and
normally competitive pressure would keep prices down. But even
though price gouging is not specifically dealt with under
Australian competition law, the ACCC has responded to the
public's concerns by warning that excessive pricing may
indirectly breach particular provisions of the Australian Consumer
Law. For example, those who engage in price gouging may
contravene:
- the misleading and deceptive conduct laws, where a business
makes misleading claims about the reason for excessive pricing of a
product; and
