Mallee families and farmers are paying the price after three years of the Albanese Labor Government doing nothing to prevent major supermarket profiteering and anti-competitive behaviour, Member for Mallee Dr Anne Webster said today.

Dr Webster said the Australian Competition and Consumer Commission (ACCC) Supermarkets Inquiry Final Report confirmed The Nationals’ repeated warnings that ‘Coles and Woolworths have limited incentive to compete vigorously with each other on price’.

The report found over recent years, Mallee families have been faced with increasing prices across almost all goods and services, with grocery prices[1] rising by more than other goods and services; about 24 per cent compared to 22 per cent.  However, Australian wages have not kept pace with grocery inflation, and “by the end of 2022 and in early 2023 grocery prices were increasing at more than twice the rate of wage growth.”

The latest ABS data also shows that after almost 3 years of an Albanese Labor Government, Bread prices are up almost 20 per cent, milk is up 18.5 per cent, breakfast cereals 15 per cent and fish over 14 per cent.

“Labor’s Mandatory Food and Grocery Code won’t take effect until April 1, despite Mallee’s cost-of-living crisis running for almost three years and Coalition calls since 2020 for action,” Dr Webster said.

“The Report also found, unsurprisingly, that our supermarkets make some of the highest profit margins in the world.

“Anthony Albanese has also been weak to stand up to the major supermarkets and has had the wrong priorities, making excuse after excuse for three years.”

The Report also found regional communities are impacted most, as “market concentration is high, particularly in regional and remote areas”.

Dr Webster said the Coalition had a strong plan to crack down on major supermarkets and deliver fair prices, that included:

-                      Tough new penalties with $2 million on-the-spot fines – ten times higher than under Labor.

-                      Increased powers for the ACCC to conduct random audits of major supermarkets.

-                      A Supermarket Commissioner, to act as a confidential avenue for farmers and suppliers, to address the fear of retribution.

-                      Sector-specific divestiture powers, in the hands of the ACCC and the courts, as a last resort to address the behaviour of supermarkets and to put an end to instances of price-gouging.

[1] (as represented by CPI food and non-alcoholic beverages)