Senator Trish Crossin today welcomed the Rudd Labor Government’s directive to the Australian Competition and Consumer Commission to begin a formal inquiry into grocery prices.
Date: 24 January 2008
Senator Trish Crossin today welcomed the Rudd Labor Government’s directive to the Australian Competition and Consumer Commission to begin a formal inquiry into grocery prices.
This announcement is in keeping with Labor’s election promise to give the ACCC powers to conduct inquiries into grocery prices.
“Grocery prices in the Northern Territory have been increasing. In June 2007, the cost of a basket of groceries increased by 3.1% in Darwin and 3.6% in Alice Springs compared to June 2006. Katherine experienced the biggest rise, with an increase of 4.6% at the checkout,” Senator Crossin said.*
“There is strong evidence to show that grocery prices in Australia are increasing faster than the world average. This is placing unnecessary pressure on working families who are finding it hard enough make ends meet.
”Territorians, particularly those living in remote communities, are faced with further price rises, and we want to know if more can be done to ensure local families have access to a genuinely competitive market for basic food items.”
The inquiry will look into all levels of the supply chain, from farmers to the retailers, and the ACCC will consult with all groups involved, including interested parties. The ACCC is required to report to the Minister for Competition Policy and Consumer Affairs Chris Bowen by 31 July 2008.
“I urge all interested parties to make their submissions to the ACCC before then.” Senator Crossin said.
*Grocery Price Survey June 2007
http://www.nt.gov.au/ntt/economics/publications/gps/gps_june07.pdf