Australia’s big supermarkets will face fresh scrutiny with a Senate inquiry to investigate their market power and pricing decisions, amid concerns they have profiteered during an inflationary period marked by fast-rising food costs.
The Greens have secured cross-party support to set up the inquiry, which will examine the effect of market concentration on food prices and the pattern of pricing strategies employed by the major chains, Coles and Woolworths.
Read the full article on The Guardian website
NAM Implications:
- Whatever the ‘rights & wrongs’ of this issue…
- …the trade can anticipate a long period of distraction and confusion for consumers.
- As the government explore a combination of pricing probes, and threats of price controls, sanctions and divestments to put pressure on grocery prices.
- Meanwhile, consumer trust in the Australian mults deteriorates…
