So, what’s Albanese promised — and is price gouging even happening? Here’s what you need to know.

What has Albanese promised on supermarket price gouging?

“We know prices at the supermarket have hit household budgets, and that’s why this government, for the last three years, has been focused on doing what we can to take pressure off households without adding to inflation.”

Anthony Albanese and Finance Minister Katy Gallagher speaking to reporters in Canberra. Source: AAP / Lukas Coch

Laws to protect customers from companies engaging in price gouging already exist in the UK, European Union, and dozens of states in the US.

The group would include Treasury, the ACCC and other experts who would consult and report to the federal government within six months.

Are big supermarkets price gouging? It’s complicated

“We didn’t reach that [price gouging] conclusion, and part of the reason is the complexity of making that when you look at the range of products and the different margins that they have, and the fact that they change pricing almost on a weekly basis,” ACCC deputy chair Mick Keogh said.

The report also didn’t seek to determine whether the prices of profit margins at big supermarkets were “excessive”, as ACCC regulates supermarket conduct — and running a business at a profit isn’t illegal.

Coles, Woolworths reject Albanese’s proposal

In a separate statement, Woolworths echoed Coles’ comment that the ACCC’s final report found no evidence of price gouging, and said it had taken steps towards fulfilling many of the ACCC’s recommendations.

“Yet, instead of hearing how the government will address these issues, which significantly affect all Australian retailers and consumers, we unfortunately see more taxpayer-funded deflection.

Opposition leader Peter Dutton spoke at Austral brickworks in Sydney on the second day of campaigning. Source: AAP / Mick Tsikas

What is the Coalition promising on supermarkets?

Dutton says the Coalition’s policy is divestiture, a supermarket commissioner and “significant fines that start at $10 million”.

“Prices are up at supermarkets at the moment because of Anthony Albanese. That’s the predominant reason.”

What about the Greens?

Last year, the Greens introduced a bill to ban supermarket price gouging, which was voted against by both Labor and the Liberals.

“But even more than that, what the Greens want to see is the supermarkets know that they could be broken up as well if they keep on abusing shoppers and abusing their market power, that’s where the penalty should be.”

Will a price gouging ban make groceries cheaper?

With reporting by the Australian Associated Press.