Supermarket prices causing Australians ‘a lot of pain in their hip pocket’

Shadow Finance Minister Jane Hume says prices at the supermarket are causing Australians “a lot of pain in their hip pocket” as prices have risen by “around 10 per cent” in the last two years. The initial findings of an independent review into supermarket giants will be handed down today. The review – led by former Labor competition minister Craig Emerson – suggests supermarkets with annual revenues of more than $5 billion need to follow a mandatory code. “We do know prices at the supermarket are causing people a lot of pain in their hip pocket,” Ms Hume told Sky News Australia. “Prices have already gone up by around 10 per cent in the last two years alone. “The price of bread has gone up by 17.5 per cent. “The price of milk has gone up by around 16.5 per cent. “So, we know that Australian consumers are feeling it in their hip pocket.”