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The Guardian - AU
The Guardian - AU
National
Paul Karp Chief political correspondent

Albanese offers extra powers for ACCC to battle supermarket price gouging

Increased margins helped Coles post a $1.1bn full-year profit at its most recent full-year results, while Woolworths lifted its annual profit to $1.6bn.
Increased margins helped Coles post a $1.1bn full-year profit at its most recent full-year results, while Woolworths lifted its annual profit to $1.6bn. Photograph: Quinn Rooney/Getty Images

Anthony Albanese has offered to give the competition watchdog extra powers to combat price gouging, after comments from the regulator suggesting it could sue grocery giants for deceptive special discounts.

On Tuesday, the Australian Competition and Consumer Commission chair, Gina Cass-Gottlieb, said it was “carefully looking” at a potential claim that some discounts amounted to deceptive conduct – when retailers increased prices for a brief period beforehand, exaggerating consumer savings.

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