“They are treating us like chumps": Karl fires up over supermarket practices

In a heated interview on the Today show, Karl Stefanovic confronted Treasurer Jim Chalmers over the conduct of major supermarket chains, accusing them of treating Australian consumers like "chumps". The exchange followed the release of the Australian Competition and Consumer Commission’s (ACCC) final report into supermarket practices, highlighting concerns over price-gouging, misleading discounts and "shrinkflation".

The ACCC’s inquiry found that the dominance of Woolworths, which controls 38% of the national grocery market, and Coles, which holds 29%, has resulted in an “oligopolistic” effect. Despite this, the regulator refrained from endorsing Opposition Leader Peter Dutton’s call for greater powers to dismantle the supermarket giants, cautioning that there was no “silver bullet” solution.

Treasurer Chalmers acknowledged the ongoing cost-of-living pressures, saying that “Australians are still feeling that pressure at the checkout. And that’s why we’re cracking down on the supermarkets.” He added that the government was working to foster greater competition in the industry to prevent further consumer exploitation.

However, Stefanovic challenged Chalmers, arguing that no significant changes had been made to curb supermarket dominance. “They are treating us like chumps and they continue to,” he said. “And I’ve not seen anything that’s going to stop them from doing that.”

Chalmers then defended the government’s economic policies, citing key improvements including declining inflation, rising real wages and economic growth. “We know that people are still under pressure,” he admitted but insisted that progress was being made.

In response to the ACCC report, Coles issued a statement claiming the company also faces financial pressures, including rising rents and electricity costs. “We do not control these inflationary costs in the economy – but they contribute to higher grocery prices for Australian households,” the statement read.

Coles also defended its pricing strategy, stating that grocery inflation (excluding tobacco) remained at just 1% for the first half of the financial year. The company assured that it is reviewing the ACCC’s recommendations and has already implemented changes to improve pricing transparency and customer communication.

Images: The Today show