Retailers in the country oppose a clause in pending price-gouging laws , with big supermarket chains flagging margin pressures after reporting weaker sales. Coles recorded a three per cent drop in comparable sales while its quarterly sales slipped 1.7 per cent.

In the South Korean capital , the ruling party proposed new draft legislation requiring beach operators to post mandatory fees to prevent seasonal price hikes .

Meanwhile, UK competition experts see parallels between supermarket price debates and possible actions.

The proposals come as governments worldwide seek tools to curb sudden price surges.