There are reports of profiteering happening.
Retailers apparently aren't quick enough to flow on the savings to their products. There are other reports that big businesses are profiteering off of inflation and raising prices just because they can. I have heard anecdotal reports that business owners are doing the same.
How much of inflation is just down to the wealthy manipulating things and selfish people increasing prices because they can get away with it? It is being blamed on a far away conflict that really has little financial impact here at all. Those of us who don't have memories dictated by media narratives know that inflation was high before the war began.
To those who are profiteering note, you won't get away with it. God hates unjust weights and measures, he is watching, he is making an account. Charging more for a necessary service because you can, is an unjust weight or measure:
"Diesel holds up
Mr Trotter says retailers are holding up the price of diesel given the significant fall in the prices from Singapore.
“Given that diesel represents some 20 billion litres per annum and is the key fuel in road transport, rail, agriculture, mining and marine (industries) it arguably has the biggest impact on price inflation as it feeds through into significant percentage of all deliveries in Australia”.
The gap between falling petrol prices and static ones for diesel sees those consumers “significantly disadvantaged” as a retail price gap blows out to near 40 cents a litre."
It's not just fuel companies:
"Essentially what's going on is that big corporations are using the cover of inflation to jack up their prices beyond what their input costs would justify and rake in those profits, and consumers are paying the price. Some of the most egregious examples are credit card companies. Visa and MasterCard, for example, are a massive duopoly in their space, and so they have a huge amount of market share. And what we saw is that these companies make money by taking a fixed percentage cut of each transaction. So with inflation, as prices are rising, they're inherently going to be pulling in more money, and yet these companies are also increasing that transaction fee."
Reports are coming in in many places. My advice to you is if you don't need it now don't buy it. Of course some things we have no choice, but the cost of some things is falling, just wait. Don't pay $20,000 over price for a car, or a service of some kind that you can wait for. Don't give the profiteers the satisfaction.