Wednesday, April 24, 2024

Higher grocery prices forcing Aussies to make sacrifices

Many younger Australians and lower income households are spending up to one-quarter of their net income on groceries, according to the ACCC.

A consumer survey which is part of the ACCC’s Supermarkets Inquiry has also found that households, to reduce their grocery bills, are spending more time shopping around for savings, substituting fresh food with frozen, and cutting back on non-essential items.

Some people have reported skipping meals or sacrificing meals to feed children properly, too.

“Survey responses give us a very important insight into consumers’ everyday experience of the sector that will complement our investigation into the pricing practices of the supermarkets,” says ACCC Deputy Chair Mick Keogh.

“Having responses that reflect the whole community’s experience will help us to identify the right issues that need to be explored more deeply in our inquiry. Findings from the consumer survey will be included as part of the ACCC’s interim report, due by the end of August.”

The survey results will inform the ACCC’s assessment of competitive dynamics in the sector and help to identify issues for further exploration as part of the Supermarkets Inquiry.

“A clear theme in the survey responses so far is that consumers consider the price of groceries to be a major factor in the cost-of-living crisis,” says Mr Keogh.

The survey closed for response yesterday (2 April).

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