00:02The climbing cost of groceries.
00:04When you sort of get one bag, it's more like $100 for one bag.
00:09The $300 shop seems like it's $400 plus now.
00:12Many Australians have changed what they buy as prices continue to rise.
00:17I don't buy chocolate, I don't like confectionery.
00:19One thing I've noticed over the years is butter.
00:21Oh, another one I noticed was sunblock.
00:23Year on year, shoppers are reporting bigger spends.
00:26It's going to happen again as more things like the conflicts in the Middle East
00:30put the squeeze on farmers and on suppliers and then supermarkets
00:34and ultimately on consumers.
00:37Consumer research company CanStar's shop at Woolworths
00:40has gone up by 8.5% in the last 16 months.
00:44On the flip side, wages have risen by 3.3% in the year to March.
00:49The price of basics like mints and milk are up,
00:53reflecting the impact of weather events on farmers
00:56and inflated shipping costs since the pandemic continue to impact prices.
01:02Researcher Lisa Asher has looked at the UK,
01:04which she says has a more competitive market structure
01:08and found grocery price hikes were less and in some cases costs came down.
01:13She's calling for a Royal Commission to look at whether legislation is needed
01:17to improve competition in Australia.
01:19The competitive effects or lack thereof means that we are paying a premium,
01:24I'd say around about at least 10%.
01:27Under new powers, the ACCC can fine supermarkets
01:31for excessive pricing of grocery items
01:34and it can block supermarkets from moving into areas
01:37which may lead to a loss of competition.
01:40For more information, the RDN
