Retailers in the region oppose a single clause in pending price-gouging laws , with Coles and Woolworths flagging margin pressures after reporting weaker sales. Coles recorded a three per cent drop in comparable sales while Woolworths said its sales slipped 1.7 per cent last quarter .

In the Korean port city, the ruling party proposed a bill requiring beach operators to post mandatory fees to prevent seasonal price hikes .

Meanwhile, UK competition experts see parallels between supermarket price debates and possible upcoming official moves .

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