Today's ACCC reports show that good management will always perform better than scaremongering, the Minister for Financial Services & Regulation, Joe Hockey, said today.
The Australian Competition and Consumer Commission today issued two reports on the outcomes of its surveys of price movements of commonly purchased household items since the beginning of the year.
The ACCC surveys show that while about 40 per cent of surveyed products recorded price increases, about 30 per cent of products recorded decreases and about 30 per cent of products stayed the same in price.
"Despite the best efforts of the ALP to scare and confuse consumers, Australians were not ripped off during the implementation of the New Tax System," the Minister said.
"Once again, these two reports show the outstanding job the ACCC has done in informing Australia's consumers and educating our businesses about the introduction of the New Tax System."