Monday, July 22, 2024

CHOICE releases first quarterly report on supermarket prices

Consumer group CHOICE has released its first quarterly, government-funded report on supermarket prices across Australia.

The research reveals that ALDI has the cheapest groceries nationwide, with a comparable basket from the retailer about 25 per cent cheaper than at Coles or Woolworths.

“ALDI was the clear leader on value for money in our first supermarket basket survey for 2024, with our basket of 14 products costing just $51.51,” said CHOICE CEO Ashley de Silva.

“Grocery prices at Coles and Woolworths are very closely matched, with only 75 cents separating the prices of our basket of 14 items without specials. Coles was the most expensive at $69.33, while the basket at Woolworths came in at $68.58,” he said.

Mystery shopping compares prices

As part of the research, CHOICE sent mystery shoppers to 81 regional and metropolitan supermarkets across the country, including ALDI, Woolworths, and Coles, to record prices for 14 common grocery items.

In addition to determining the retailer with the cheapest prices, the research also found where people live can make a difference when it comes to the cost of groceries.

“When we looked at the average cost of our supermarket baskets in each state we found that if you live in Tasmania or the Northern Territory, you’re paying significantly more each week for your groceries. However, this is mainly due to the fact that these areas have more limited options for shopping than the rest of the country, with no Aldi in Tassie or the NT,” said de Silva.

“Outside of the Northern Territory and Tasmania, Western Australians are paying the most on average for their groceries – around a dollar more for this basket of items than people in other parts of the country pay,” he said.

Monitoring to continue

CHOICE’s supermarket price research will continue every quarter for the next three years, helping people to stay on top of where they can find the cheapest groceries.

“We look forward to providing consumers across the country with clear, reliable information about supermarket prices. This kind of transparency is more important than ever as the cost of living crisis continues, and prices of basic grocery items climb,” Mr de Silva said.

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