CANBERRA, ACT, Dec. 14 -- The Treasurer of Australia issued the following media release:
The Albanese Labor Government has made new regulations to ban supermarket price gouging.
We're cracking down on supermarket price gouging to help Australians get a better deal at the checkout.
This is all about getting a fairer go for families in their weekly shop.
The ban will prohibit very large retailers from charging prices that are excessive when compared to the cost of the supply plus a reasonable margin.
The new ban on excessive pricing of groceries for consumers in the Food and Grocery Code is now law and will come into effect on 1July 2026.
This will fix a key gap in Australia's competition and consumer protection framework and provide a ...