Today's release of the Australian Competition and Consumer Commission report into supermarket prices is a crucial step forward in the battle against increasing supermarket prices which are having a compounding impact on the cost-of-living pressures hurting many older people, COTA Australia says.
COTA Australia - the leading advocacy organisation for older people - Chief Executive Officer, Patricia Sparrow, said with soaring supermarket prices hurting Australians of every age, the ACCC's report into supermarket prices was sorely needed.
"There's no question that soaring supermarket prices are hurting Australians of every age, including those on fixed incomes like the pension.
"We've heard too many stories of pensioners and others on fixed incomes eating smaller and fewer meals or foregoing fresh produce because they simply can't afford to eat properly.
"Sitting back and allowing our supermarkets to make huge profits while pensioners are cutting back on the food they eat isn't an option. The release of this report needs to mark a big step forward in action finally being taken to address the serious issue.
Ms Sparrow said two out of three responses to COTA Australia's Supermarket Prices survey indicated that food and grocery price increases are impacting adversely on their psychological and emotional health.
"Most older Australians believe the big supermarket chains are unreasonably increasing their profit margins while consumers are facing steep rises in food and grocery costs," Ms Sparrow said.
"Transparent pricing and discount information, stronger consumer protections in the Food and Grocery Code, fairness for suppliers, and action on shrinkflation, were just a few areas that older Australians have told us they want to see action on, so it's good to see those issues addressed in the ACCC report.
"The consumer watchdog's investigation into supermarkets was much needed - now older Australians will look forward to seeing these recommendations put into action.
"The current price issues are affecting most households, but there's also a clear view among older Australians that it is people on lower fixed incomes and those or living outside cities or large regional centres who are being hardest hit by our supermarket monopolies and soaring food and grocery prices.
"Older Australians are sick and tired of being played for fools at the supermarket. We're looking forward to action being taken to restore sense at the check-out."
