Submissions Open for Senate Inquiry into Supermarket Prices

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The Senate has established a Select Committee on Supermarket Prices, to inquire into and report on the price setting practices and market power of major supermarkets.

The committee is seeking submissions that address the terms of reference by Friday, 2 February 2024 and the committee’s final report is due by 7 May 2024.

The terms of reference are:

To inquire into and report on the price setting practices and market power of major supermarkets, with particular reference to:

a. the effect of market concentration and the exercise of corporate power on the price of food and groceries;

b. the pattern of price setting between the two major supermarket chains;

c. rising supermarket profits and the large increase in price of essential items;

d. the prevalence of opportunistic pricing, price mark-ups and discounts that are not discounts;

e. the contribution of home brand products to the concentration of corporate power;

f. the use of technology and automation to extract cost-savings from consumers and employees;

g. improvements to the regulatory framework to deliver lower prices for food and groceries;

h. frameworks to protect suppliers when interacting with the major supermarkets;

i. the role of multinational food companies in price inflation; and

j. any other related matters.

The committee is seeking submissions from people detailing their experiences with the rising prices of essential food and groceries. The committee would also like to hear from retailers, primary producers, experts and academics in market power, competition policy and supply chains, and any other interested stakeholders.

Further information about the inquiry is available on the committee’s website. Published submissions and hearing programs will also be published on the website, once available.

To receive updates about the committee’s work you can use the Track Inquiry function on the right-hand side committee’s website.