Of course Coles and Woolies are gouging

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Readers will know that MB is pretty disgusted with Australia’s fake Greens, but they do appear to be onto a good thing with their attack on Coles and Woolies:

Australia’s big supermarkets will face fresh scrutiny with a Senate inquiry to investigate their market power and pricing decisions, amid concerns they have profiteered during an inflationary period marked by fast-rising food costs.

The Greens have secured cross-party support to set up the inquiry which will examine the effect of market concentration on food prices and the pattern of pricing strategies employed by the major chains, Coles and Woolworths.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.