This petition was submitted during the 2019-2024 parliament
Rejected petition End unjustifiable price increases based on RPI PLUS a random percentage.
Make it illegal for firms to increase their prices on the basis of an increase in line with the Retail Price Index PLUS a random percentage chosen by them. This can produce an increase many times normal inflation and contribute hugely to national inflation.
More details
Price increases should be justifiable by increases in costs and overheads – this process, which I believe can be accurately described as “PYRAMID PRICING” cannot be!
In a worked example based on £10 plus RP of just 2%, over the course of the last 23 years, plus Virgin & others 3.9% came to £74 whilst inflation would have been just £18.00. This is more than FOUR times the inflation in the same period.
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not directly responsible for.
We can only accept petitions about things the Government or Parliament are directly responsible for.
Decisions about the price of individual products and services are a matter for suppliers and retailers, not the UK Government or Parliament.
We only reject petitions that don’t meet the petition standards.