Coles, Aldi respond to cost of living crisis

Major supermarkets Aldi and Coles will appear alongside Metcash, a major supplier of independent supermarkets, before the committee in Box Hill, Melbourne, on Wednesday.

It comes as Australians continue to grapple with increasing costs, including mortgage rates after the Reserve Bank of Australia raised the official cash rate – which guides interest rates set by lenders – to 3.35 per cent.

The committee is travelling around the country to hear evidence about cost of living pressures, including the weekly shopping bill, impacting the household budget.

Questions will be put to the supermarkets on Wednesday about how price increases are impacting their supply chains and how consumer preferences are changing as pressure on family budgets increase.

Chair Jane Hume said the committee aimed to hear from diverse areas across the country to learn how cost of living pressures were impacting everyday Aussies.

“Cost of living is the No.1 issue facing Australians right now,” she said.

“I want this committee to go right around Australia, to hear from ordinary Australians about how they’re doing, where they’re finding it tough and find practical solutions to Labor’s cost-of-living crisis.”

Menzies MP Keith Wolahan said cost of living was the biggest issue for his community.

“Every day I’m hearing stories about the tough choices families are having to make to manage their household budgets,” he said.

“But while many families are putting grocery items back on the shelves to stick within their tighter budget, this Labor government is not showing the same budgetary restraint.

“It’s great to have the cost of living committee out in Box Hill so they can hear directly from the local community groups who know first hand just how tough people are doing out here,” Mr Wolahan said.

The committee will also hear from community groups including Meals on Wheels Victoria and the ACCC on competition in the financial sector.