The chief executive of Aldi and the boss of IGA will be the first supermarket executives to face a Senate inquiry into rising grocery prices and price gouging. The inquiry is investigating allegations of price gouging, high profits, and poor conduct towards suppliers.
Executives from Aldi and IGA will be the first supermarket bosses to appear before a Senate inquiry into grocery prices .The first bosses of Australia’s biggest supermarkets are getting ready to be interrogated over rising grocery prices and price gouging before a final showdown that will see the heads of Woolworths and Coles front angry senators.
In its submission, Aldi revealed that it recorded a 4 per cent increase in customers in 2023 but argued that the increase was due to its offering of low-prices “year round”, rather than a rotation of mark-ups and discounts used in other supermarkets.“Aldi’s prices are more stable than at some of the other supermarkets,” its submission read. “Permanently low prices across the majority of the Aldi range means more clarity and certainty for customers as well as more savings year-round for shoppers.
Coles boss Leah Weckert and outgoing Woolworths counterpart Brad Banducci will both front the inquiry next Tuesday, after both chains reported annual profits of more than $1bn last year, while household spending on food reached record highs. “They’ll have to answer for price gouging shoppers and putting the squeeze on farmers,” Senator McKim said.
Aldi IGA Supermarket Executives Senate Inquiry Grocery Prices Price Gouging High Profits Poor Conduct Suppliers
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