Easing cost of living pressures through a price gouge crackdown
When the Reserve Bank of Australia (RBA) needed to put downward pressure on inflation, the Board had one blunt tool to reach for: interest rate rises, felt hardest by households.
While the RBA has only one lever to pull, the Commonwealth has a broader range of instruments to influence inflation and contributors to the cost of living.
This submission into the ACTU-backed inquiry calls on the government to take action on pricing in order to achieve a two-pronged outcome: ease pressure on Australian households, and curb inflation.
September 2023
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