Albo slams supermarket price gouging: ‘People can see there’s a discrepancy there’

Anthony Albanese has slammed Coles and Woolworths for allegedly engaging in price gouging practices, rejecting the supermarkets’ claims that high prices are necessary after years of rising inflation.

The Prime Minister appeared on ABC RN this morning, possibly in a Radio Birdman tee, when he took aim at the supermarkets.

“I think the problem for the big supermarket chains is that when people look at the prices that they’re paying off the farmers, and then look at what the prices they’re charging, is that people can see there’s a discrepancy there,” Albanese said.

“People look at the profits the supermarkets are making, people know there is effectively a big duopoly who have considerable market power.”

Coles and Woolworths are the subject of a number of ongoing inquiries into grocery pricing.

Last month, the supermarkets faced a Senate grilling, while Albanese met with Treasurer Jim Chalmers this morning regarding a future inquiry into the current voluntary food and grocery code, as well as a possible ACCC investigation.

Should the ACCC get involved, the supermarkets will be required to reveal exactly how much they are marking up produce.

Both supermarkets have denied they are engaged in price gouging, pointing to overall inflation, which has resulted in rising costs across construction, logistics, packaging, and energy.

Albanese isn’t buying it, though.

“I think there is a discrepancy there – simple as that,” he said.

Woolworths told Mumbrella it is focused on passing on savings to its customers.

“As we start to see the rate of inflation ease, we will continue to focus on delivering savings to our customers,” a spokesperson for the supermarket told Mumbrella today.

“We know Australians are feeling the strain of cost of living and we are working to deliver relief in their weekly grocery shop, with dropped prices on hundreds of products and more than 6,000 specials every week.

“We are committed to offering our customers value while working with our suppliers to sensitively manage economy-wide pressures.”


Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.



Sign up to our free daily update to get the latest in media and marketing.