Australia’s two biggest supermarket chains have responded to claims producers aren’t seeing a return from rapidly increasing prices. 7NEWS
, among other recent price hikes as inflation and supply and demand pressures rock the industry.
The supermarket giants lashed Gaeta’s suggestion of price gouging, saying the situation surrounding skyrocketing supermarket prices was complex. “The big reason prices are up on some varieties is the reduced supply in the market, following the east coast floods and ongoing bad weather in key growing regions.”
“We process more than 20 million customer transactions each week, providing our customers with products from thousands of farmers and suppliers.”“Australia generally does not have laws aimed at curbing excessive prices or markups,” an Australian Competition and Consumer Commission spokesperson told 7NEWS.com.au.
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