Earlier this year an investigation by two consumer groups, Frugl and One Big Switch, found that groceries are around 2.6 per cent more expensive than they were in 2021. How much higher across the board higher that will go this year remains to be seen. If Coles and Woolworths bosses recent comments tell us anything, it is that things aren’t looking to peachy.
‘Live and real’ rising grocery costs are here in Australia. The head of Australia’s largest supermarket chain Woolworths has said consumers will need to be prepared for noticeable price rises across all grocery categories in the months ahead as inflationary pressures start to ramp up.
Head of Australia’s number one supermarket, Woolworths, said they were starting to see price rises of 2–3% and warned inflation was a “live and real” issue, impacting all facets of Australia’s supply chain…
“We’re going to be living in this world where, unfortunately, we’re going to see material price increases”
— Brad Banducci | Woolworths CEO
Coles boss preparing for worst price inflation in ‘quite some time’. The head of supermarket giant Coles has warned inflationary pressures across all categories of groceries are the worst they’ve been in recent times, with the cost of a weekly shop likely to get more expensive…
“[Inflation] has been going on in certain categories for quite some time, but the level of across the board cost inflation that we’re seeing hasn’t been seen for quite some time,”
— Steven Cain | Woolworths CEO
So dear readers, there you have it, Australian grocery prices will rise with inflation this year according to forecasts. It means Australians can expect to see shelf prices at the nation’s biggest supermarkets increasing as inflation does. Currently headline inflation in Australia is 3.5 per cent, with Treasury forecasts in the recent Federal Budget anticipating inflation to reach 4.25 per cent before this financial year is over.