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The Guardian - AU

Business

Jonathan Barrett

Woolworths trumpeted eight consecutive quarters of price declines. Here’s why that claim doesn’t pass the pub test

Woolworths Graham Cooke Coles Guardian Australia

Woolworths — It turns out that when Woolworths says average prices have declined, it does not actually mean that an identical basket of groceries costs less than it used to. Photograph: Loren Elliott/Reuters

It sounds like great news for households.

Average grocery prices have recorded “eight consecutive quarters of year-on-year price declines”, Woolworths declared at its half-year financial results.

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