Australians have been hit with a significant hike in grocery prices since the start of the year, it has been revealed.
The hikes comes amid the global supply chain crisis and have resulted in each Australian grocery chain handling the inflation differently.
Woolworths prices increased by 4.3 per cent in the first quarter of 2022, compared to the previous quarter when they were up 1.4 per cent.
Meanwhile Coles’ prices have gone up 3.2 per cent, according to UBS.
Australian Food and Grocery Council CEO Tanya Barden, said the price increases can be attributed to changes in wholesale costs.
“All manufacturers of food and groceries are facing pressure and this is on the back of a decade of prices increasing by less than the wholesale prices so there had been a lot of absorbing of costs prior to the pandemic,” she told 3AW.
“And then through the last couple of years the cost of everything to do with making and distributing goods has gone up.”
Ms Barden also said the price creep is impacting all parts of the sector.
“All manufacturers of food and groceries are facing pressure and this is starting to flow on,” she said.
“It’s affecting pretty much everything that’s made and sold in the supermarkets.”
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