SHOPPERS are continuing to feel the pinch at the supermarket checkout amid the worsening cost-of-living crisis, with new data from Compare the Market showing that the price of common groceries has jumped more than 40 percent since 2021.

Some of the biggest price hikes of the items analysed were Mixed Vegetables (54 percent), Australian Brushed Potatoes (53 percent), Peppermint Tea Bags (50 percent), Baked Beans (40 percent) and Toilet Cleaner (40 percent).

Compare the Market’s Chris Ford said any price hike would impact Australian families who are already doing it tough.

“A price increase of a few dollars here and there may not seem like much, but it can have a significant impact on the weekly budget – especially if you’re doing a big grocery shop,” Mr Ford said.

“We know that the big supermarkets are trying to lure in customers by locking in or dropping prices, but our analysis shows that many of the essentials we shop for each week have actually increased since last year.

“In a time where we’re seeing energy bills skyrocket, feeling pain at the petrol bowser and seeing insurance premiums rise, the last thing we want is for Australians to be forking out more than they need to on everyday items they need.

“There’s currently an olive oil shortage due to fires and droughts in Europe, which could be why we’re seeing a 100 percent price increase since 2021 for particular products.”

It appears no shopping aisle was exempt from inflation, with breakfast cereals, pet food, potato chips, coffee, deli meats, soft drinks, cleaning items and cheese now costing Australians more than it did in 2021.

The price of Bega Tasty Cheese Block has jumped $2.50 (31 percent), Red Rock Deli Sea Salt chips are up 35 percent, while a ten-pack of Coca-Cola 375ml has seen a 32 percent increase.

Last week, the Federal Government announced the appointment of Dr Craig Emerson to lead a 2023–24 review of the Food and Grocery Code of Conduct to ensure that the supermarket sector is working as it should.

Prescribed under the Competition and Consumer Act 2010, Aldi, Coles, Woolworths and Metcash are signatories to the Code and are bound by it.

The Code was introduced to improve standards of business behaviour in the food and grocery sector.

The Code regulates the conduct of these retailers and wholesalers towards suppliers.

“If the price for meat and fruit and vegetables is going down at the farm gate then families should be seeing cheaper prices on supermarket shelves too,” Prime Minister Anthony Albanese said.

“Supermarkets have a duty to make sure they’re providing affordable options for all Australians, especially when they’re making savings on their own costs.

“If there are further steps that are needed then the Government will not hesitate to take action.”

Treasurer Jim Chalmers said the Government expects all companies to treat Australian consumers fairly.

“As a Government we’re taking a fresh look at the Food and Grocery Code of Conduct to make sure the sector is giving consumers and suppliers a fair deal,” Mr Chalmers said.

“When the price of meat and fruit and veggies comes down for supermarkets, it should come down for families as well – it’s a big chance for the big supermarkets to do the right thing.”

Mr Chalmers also indicated that he had been in “ongoing discussions” with the Australian Competition and Consumer Commission (ACCC) on further monitoring of grocery prices.

“We want to make sure that we’ve got downward pressure on these prices,” Mr Chalmers said.

“We want to unleash the power of competition.

“That often begins with a robust monitoring regime and also the right kinds of codes.”

On Tuesday morning, the Prime Minister said ACCC Chairwoman Gina Cass-Gottlieb is “carefully looking at potential litigation and is saying in a very clear warning that that’s an option that’s open to the ACCC”.

Nationals leader David Littleproud said his party had been calling for the ACCC to investigate supermarkets since November.

“Under section 95, the Treasurer has the legislated power to direct the ACCC and give it strong powers to compel witnesses and recommend harsher penalties,” Mr Littleproud said.

“The Nationals wanted this investigation urgently before Christmas but Labor is simply too slow to take action.

“They are only now realising these powers exist, but promised Australians the two inquiries they announced would yield results.

“We need an inquiry into disparities between farmgate and retail food pricing.

“The ACCC has the powers to properly investigate as part of a dedicated inquiry to ensure fairness for farmers and consumers and it’s baffling it has taken the government so long to realise.”