ACCC v Delish and Shopfast

Delish and ShopFast are two grocery stores which are located opposite each other in the same grocery store. Each week the managers of the stores put out signs which list the prices of their popular products, including bread, milk, fruit, and roast chickens. The prices listed on the signs of each business are always identical. One business will almost never put a price which is lower than the other business and, if one business increases its prices, the other business will also increase its prices.

The ACCC has recently received several complaints about the conduct of Delish and ShopFast. Advice the ACCC whether Delish and Shopfast are engaging in any anti-competitive beavhiour. Ensure that you use the IRAC method when answering the question.