ACCC clears supermarkets of price gouging amid the coronavirus pandemic

Australian Competition and Consumer Commission (ACCC) chair Rod Sims has cleared supermarkets of price gouging during the coronavirus pandemic despite the claims of many shoppers.

Mr Sims says the price of fresh food such as broccoli and cauliflower has risen quite a lot but this was due to the effect of the drought and bushfires on growers.

“We have not seen evidence of significantly higher supermarket margins,” Mr Sims told an Australian Financial Review business summit on Monday.

Panic buying of items such as toilet paper, rice and pasta have helped Coles and Woolworths enjoy record sales during the pandemic.

The ACCC says it has contacted gym operators, travel companies, event payment processors and others during this time to change their pricing approach.