Graeme Samuel says the higher prices charged by the two major supermarkets could have been caused by suppliers, as the ACCC found the retailers have increased their earnings and operating margins over the past five years.
Already a subscriber?Woolworths and Coles could be totally innocent of allegations they were misleading customers and manipulating specials, with politicians wanting to find someone to blame for higher prices, former competition regulator Graeme Samuel says.
The interim report published on Friday comes in a difficult week for Woolworths and Coles. On Monday, the “Coles and Woolworths will either be shown to have been deceptive and ripping off customers, or there is total innocence. It could very well be that the higher prices were caused by suppliers,” he said.
The company’s chief executives are set to face public hearings in November, ahead of a final report due by February next year. The ACCC will analyse the prices of products including beef, chicken, pork, milk, biscuits, pet food and dishwashing tablets over the next five months. Discount chain Aldi held only 13 undeveloped sites. Whether significant property purchases or blocks of undeveloped land proved allegations of “land banking” had yet to be determined, the ACCC said.
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