Larvatus Prodeo

Competition lawyer Professor Frank Zumbo studied food prices in the OECD from 2000 and found price increases in Australia at 41.3% were the third highest behind only New Zealand and South Korea. He had no doubt the evil duopoly of Coles and Woolworths was to blame.

Graeme Samuel, the chairman of the ACCC, was more inclined to blame the drought and “other factors” pointing out also that in fresh food the market share of Woolworths and Coles was probably less than 50%.

I heard Choice supporting Zumbo and the Retail Association supporting Samuels. Stephen King doubts the duopoly argument and points out that prices have risen faster in Britain in the last five years.

Continue reading ‘Food price hike’