Australian politics live: businesses increasing prices under cover of surcharge ban, UBS economists warn; fire ants in Sydney’s inner west

Businesses in Australia are increasing prices under the cover of a ban on surcharges, warn UBS economists. This means that even though the government has prohibited businesses from charging extra fees to customers, companies are finding other ways to pass on costs. The economists' warning suggests that the ban may not be as effective as intended, potentially affecting consumer spending and the overall economy.

Why it matters

Australian businesses are increasing prices under the cover of a surcharge ban, which could lead to higher inflation. This move may affect consumer spending and economic growth.

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