Companies found price gouging will be named and shamed | The Business | ABC News

Big business has been accused of using inflation as a cover to drive up profits during an inquiry commissioned by ACTU. The chair Allan Fels says world events like the war in Ukraine and the pandemic have been used as a scapegoat to keep prices high.
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The inquiry heard more than half of price rises above inflation have been due to profits, while labour costs account for a third. The former ACCC boss is warning companies found profiteering, could have their name up in lights. An interim report is expected to be finalised by the end of the year. Andrew McKellar from the Australian Chamber Commerce and Industry says the probe is a punch and judy show and there's very little evidence companies are price gouging. Around 600 Australians have made written submissions to the inquiry.
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