Australia has always been an expensive place to live - with higher grocery, housing, and transport costs compared to similar countries.
That high cost of living has come with some advantages - like higher wages, and quality of life.
Over the past four years, that balance has started to slip.
Cost of living is the number one issue for most Australians - as SBS found interviewing people on the streets of the country's largest city, Sydney.
Recent inflation has been blamed on the pandemic.
Undeniably, the once in a lifetime event put significant stress on supply chains.
But former chair of the Australian Competition and Consumer Commission, Professor Allan Fels, says that there are other factors driving it.
, Professor Fels released a report on Wednesday, the 7th of Feb into price gouging and unfair pricing practices... he says that businesses have contributed to high inflation.
Andrew McKellar, Chief Executive of the Australian Chamber of Commerce and Industry, denies businesses have been taking advantage of Australians.
Mr McKellar says he doubts the report's merit.
chair of the Australian Competition and Consumer Commission Professor Fels says that Australia's economic policy has allowed unfair pricing practices to occur.
He says that the federal government needs to take action to protect consumers.
In a statement, the Australian Competition and Consumer Commission says that they will review with interest the report’s wide-ranging contributions to important economic policy issues.
