US EditionSupermarkets Soon to Be Slapped with $10m Fines for Price Gouging
The Albanese Government will enforce a ban on excessive pricing by major supermarkets with penalties up to A$10 million, aiming to lower grocery bills and improve market competition.
- On Sunday, the Albanese Government announced it will ban price gouging by very large retailers, explicitly naming Coles and Woolworths and amending the Food and Grocery Code to take effect on July 1, 2026.
- Earlier this year, the Australian Competition and Consumer Commission inquiry found the grocery sector highly concentrated with limited incentive to compete, though it did not find evidence of excessive pricing.
- The ACCC will receive $30 million to enforce the Food and Grocery Code, with breaches risking penalties of $10 million, three times benefits, or 10% of turnover.
- Industry groups warned the change would skew competition, saying the law targets only two Australian-owned companies and risks raising compliance costs and prices, while Coles and Woolworths denied price gouging.
- As part of wider reforms, the Albanese Government flagged further work on unit pricing and shrinkflation, with new rules taking effect on July 1, 2026 to strengthen competition amid cost pressures.
18 Articles
18 Articles
Fines of $10 million to face supermarkets found guilty of price-gouging
The Albanese government is set to move ahead with plans to stop major supermarkets price-gouging customers from next year.Starting on July 1, the government is set to legislate new standards that could hit guilty parties with fines of up to $10 million.Treasurer Jim Chalmers said this was a sign the government was putting Australians first.READ MORE: Search for missing backpacker to resume after breakthrough find of her mobile"We know that peo…
Supermarkets Say Price Gouging Ban Does Not Check Out
Australia’s major supermarkets are furious they are being targeted with more regulations, with Coles crying poor about making about $2.50 for every $100 a customer spends. The federal government has introduced rules to limit “excessive pricing of groceries” with changes to Australia’s Food and Grocery Code of Conduct, which was made mandatory in April. The move against price-gouging—foreshadowed before a snap consultation period earlier in the y…
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