South Africa Fines Supermarkets For Price Hiking

Seven well-known South African supermarkets have been fined one million rands for hiking prices during quarantine by the National Customer Commission (NCC).

The price hiking was not solely based on inflation but price gouging by the supermarkets on the 22 essential products. During quarantine ginger and garlic became essential products.

 

The statement NCC states that “the law defines price gouging as an unreasonable price increase that doesn’t correspond to the increase in cost of providing that service. During lockdown we made a list of 22 essential products that the supplier cannot charge at an unreasonable price. This was done to protect customers against unfair practices.”

 

NCC urges customers to monitor the market and report any suspicious excessive price increase.


Hibya Haber Ajansı

Okunma