Labor Pledges to Ban Supermarket Price Gouging in Re-Election Campaign

Prime Minister Anthony Albanese promises legislation with heavy fines and a taskforce to address rising grocery costs in Australia.

Labor has announced plans to outlaw supermarket price gouging, proposing heavy fines for violations if re-elected in the upcoming May 3 election.
A taskforce, including Treasury and the ACCC, will develop an excessive pricing regime, drawing on international models from the UK, EU, and US.
The ACCC's recent report found no definitive evidence of price gouging but highlighted increased profit margins for Coles, Woolworths, and Aldi, some of the world's most profitable supermarket chains.
The Food and Grocery Code will become mandatory on April 1, 2025, with penalties of up to $10 million for serious breaches.
Labor has ruled out breaking up supermarket chains, rejecting divestiture powers supported by the Coalition and Greens as a last-resort measure.