Australian government strengthens unit pricing code to combat "shrinkflation" amid cost-of-living crisis.

The Australian government is taking action against "shrinkflation," where products shrink in size while prices remain constant or increase. Plans include a strengthened unit pricing code with significant penalties for supermarkets that violate it. This initiative aims to help consumers make better price comparisons amid a cost-of-living crisis, targeting major retailers like Coles and Woolworths. Additionally, $30 million has been allocated for the Australian Competition and Consumer Commission to investigate and enforce compliance.

October 02, 2024
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