Following the announcement of the National State of Disaster and widespread complaints of food price escalations, the Commission has today released a report on food price monitoring. The report culminates from the Commission’s concerted efforts on enforcement aimed at containing excessive pricing and price gouging on essential food items in addition to face masks and hand sanitisers.
Food constitutes 30% of low-income household expenditure and is essential for maintaining a healthy immune system, so containing price inflation is a priority during the crisis. Of the 1600 complaints received under the excessive pricing and consumer protection regulations by the end of June, 307 (or 19%) related to basic food products in retail stores.
The report highlights the Commission’s efforts in monitoring pricing food commodity and fresh produce markets upstream which were subject to some initial price increases too. The food price monitoring report identifies Rand depreciation and panic buying as partial drivers of price increases in food markets at the beginning of the crisis. However, these have been exacerbated in some cases by markets not functioning efficiently in addition to instances of price gouging by retailers…
Featured News
Subscribers Defend $4.7 Billion Antitrust Verdict Against NFL in Court Filings
Jul 19, 2024 by
CPI
Von der Leyen Calls for Competition Policy to Boost EU Companies’ Growth
Jul 19, 2024 by
CPI
Vermont AG Sues Pharmacy Benefit Managers Over Drug Prices
Jul 18, 2024 by
CPI
Australians Face Increased Stamp Prices Following ACCC Approval
Jul 18, 2024 by
CPI
Live Nation Seeks Dismissal of DOJ Antitrust Allegations
Jul 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Private Equity Roll-Up Schemes
Jun 28, 2024 by
CPI
The FTC’s Focus on Private Equity is Warranted
Jun 28, 2024 by
CPI
Unraveling the Roll-Up: Private Equity’s Misunderstood Investment Strategy
Jun 28, 2024 by
CPI
Antitrust Focus on Private Equity Funds and Serial Acquisitions
Jun 28, 2024 by
CPI
Private Equity Roll-Ups Amidst Heightened Antitrust Enforcement
Jun 28, 2024 by
CPI