By James GlynnSYDNEY--Australia's biggest food retailers are facing a parliamentary inquiry into alleged price gouging after the country's center-left Labor government agreed on Sunday to an investigation amid an ongoing steep jump in the cost of living. Coles and Woolworths will face the inquiry after Greens senator Nick McKim called for an investigation that would see their chief executives questioned. McKim alleged the supermarket operators had raised prices unfairly. "This inquiry is a critical step toward dismantling the market concentration that's led to unfair pricing and stifled competition," he said. Assistant Competition Minister Andrew Leigh said Sunday that the government supported the inquiry because Australians need answers to why prices are rising.

Source: Wall Street Journal December 03, 2023 22:13 UTC