New anti-price-gouging laws set to kick in on July 1, with Coles and Woolies in the firing line
Coles and Woolworths are in the firing line of new anti-price-gouging laws the consumer watchdog says is another tool to keep supermarkets in check.
Coles and Woolworths are in the firing line of new anti-price gouging laws the consumer watchdog says will be another tool to keep supermarkets in check.
From July 1, Australia will become the first country in the world to bring in such laws on supermarket price-gouging.
It comes after the Federal Government in December introduced new laws that prohibit large retailers from charging prices deemed excessive when compared with the cost of supply, plus a reasonable margin.
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By continuing you agree to our Terms and Privacy Policy.The ban is part of changes to Australia’s food and grocery code of conduct, made mandatory in April 2025, and will be enforced by the competition regulator.
The Australian Competition and Consumer Commission on Friday released new guidelines outlining how it would monitor compliance and assess whether Coles or Woolworths have engaged in excessive pricing.
Under the prohibition, there is no fixed threshold for what is an excessive price for a grocery product. The new rules will apply to retailers turning over more than $30 billion in revenue each year — currently only Coles and Woolworths.
The pair could face fines of $10 million per breach; three times the value of the benefit derived; or 10 per cent of the company’s turnover during the preceding 12 months.
Coles and Woolworths have been contacted for comment.
More to come.
