Is price tracking the competitor legal?

Monitoring or spying on your competitor's pricing is a completely legal and fair way to excel in your business. Solely watching your competitor's price is not an unlawful activity and doesn't lead to any legal consequences. However, one must remember that adopting actions that limit legitimate competition can be severely dealt with by strict legal actions. Simply put, the business way of using the information can become unfair - not gathering data related to price.