Boosting Consumer Watchdog to Curb Price Gouging

Australia Institute

They see "discount" signs on products they know were cheaper only months ago.

They know polluters claiming to be carbon neutral are pulling the wool over their eyes.

But they feel helpless to stop them. Apart from reporting lies and rip-offs, what can they do? Take their business to the multi-national over the road which does exactly the same thing?

The Australia Institute welcomes the latest move to give the Australian Competition and Consumer Commission (ACCC) more resources to take on these companies, on our behalf.

"An extra $30 million in funding will help the ACCC to continue its oversight of the grocery sector," said Greg Jericho, Chief Economist at The Australia Institute.

"Coles and Woolworths have long dominated the sector and our research has shown that they are less interested in competing against each other than working together against smaller operators.

"Both Coles and Woolworths have higher profit margins than supermarkets chains in the UK, USA and Europe. Australian shoppers are paying for those profits.

"Even while inflation is coming down, Australians deserve a better supermarket sector - one where companies actually compete on price rather than do all they can to ensure their duopoly remains strong."

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