The Wire

As grocery prices continue to climb amid rising cost-of-living pressures, the federal government has just released draft laws to curb supermarket price gouging.

The proposed “excessive pricing” rules would make it illegal for major retailers such as Coles and Woolworths – which together make up two-thirds of Australia’s national grocery sales – to charge unfairly high prices, with the ACCC empowered to impose multi-million-dollar penalties for breaches.

The public consultation is open to for everyone from shoppers to suppliers until November 3.