Australia’s consumer watchdog is suing the country’s two largest grocery chains, Coles and Woolworths, for allegedly misleading shoppers about the price of products.
The Australian Competition and Consumer Commission (ACCC) claims Coles and Woolworths broke consumer law by temporarily raising prices before lowering them to a value either the same as or higher than the original cost.
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Prime Minister Anthony Albanese said if the alleged conduct is proven to be true, is “completely unacceptable”.
“This is not in the Australian spirit. Customers don’t deserve to be treated as fools,” he said at a press conference.
Albanese also revealed draft legislation for supermarkets ‘code of conduct’. Coles and Woolworths are accused of adding to inflation and higher interest rates by manipulating prices.
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The ACCC alleges Woolworths made misleading price representations on 266 including Tim Tams, Kellogg’s cereal and Stayfree pads. Coles allegedly misconstrued the price of 245 products including Bega Cheese, Cadbury chocolates and Libra tampons.
ACCC Chair Gina Cass-Gottlieb is seeking penalties against the companies for making “illusory discounts” while people struggle with rising living costs. Fines can reach $50 million for each breach.
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