ACCC to examine supermarket pricing of milk, coffee and chocolate

Detailed summary

The competition watchdog will analyse eight product groups as part of new legislation to monitor Coles and Woolworths for potential gouging.

The competition watchdog will examine the retail margins of eight product groups, including milk, bread rolls, coffee and chocolate, under its new legislative power to guard against price gouging by supermarkets Coles and Woolworths.

The laws are designed to limit “excessive pricing of groceries” and are the first of their kind globally. They target supermarkets with annual revenue of over $30 billion – essentially just the big two – and kicked in from July 1.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.