Price gouging is everywhere, on everything, all at once

Leading economist Allan Fels has called for a national body to look into high prices in Australia. (Mick Tsikas/AAP PHOTOS)

Prices move like rockets and feathers - they're quick to rise and slow to fall - which is why Australians are paying so much for even bare necessities, a report has found.

Supermarkets, electricity companies, childcare centres, airlines, pharmaceuticals, electric vehicle makers and banks are among the many sectors that overcharge consumers by leveraging a lack of competition and implementing a plethora of exploitative practices.