Pandemic and price gouging: Do you suddenly feel that you are getting less bang for your buck?

There have been recent reports that the prices of essential goods and services have suddenly shot up or will increase rapidly in the Christmas period. What’s causing the price increases? Will they be long-term? Are there ethical issues about jacking up prices in a time of crisis?

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Daniel Prajogo is a Professor in the Department of Management at the Monash University Business School, a specialist in the economics of supply chains.  Dr Peter McCawley AM is an economist and Honorary Associate Professor, Indonesia Project, at the Australian National University.  With Sri Dean they discuss the causes and effects of price rises in a time of uncertainty.

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What will be the impact on the prices of goods and services if there is sustained increase in the prices of oil and petrol? Source: AAP