Comment Re:Australia's result - consumers pay more (Score 1) 261
Gosh, that wasn't what I observed. When 1c and 2c coins were removed in 1988, prices were rounded to the nearest 5c. Initially I thought this could be gamed, since the consumer decides what to buy and can ensure it rounds in their favour - but since the whole situation arose because 2c wasn't worth people's time, this was short lived.
It's true that the long run effect has meant fewer $1.99 items and more $2 items, and it's true that implies a one-time inflation hit, but it also seems to benefit both consumers and businesses to get rid of those goofy prices anyway.