That’s a wrap – thank you for reading the Need to Know blog today. These were some of the main stories:

• Supermarket attack fails to tackle the real problem: BCA chief executive Bran Black says the ACCC report has made it clear there is no price-gouging from the supermarkets, after Prime Minister Anthony Albanese’s remarks that the grocery chains would face “heavy fines” if guilty of the practice.

• PM is ‘weak as water’ on supermarkets: Opposition Leader Peter Dutton says Anthony Albanese is “weak as water” and cannot stand up to supermarkets.

• PM warns Coles and Woolies to stop ‘taking the piss’: Anthony Albanese has accused Australia’s supermarket giants of “taking the piss” with householders, even as the competition watchdog said it had no evidence of systematic price gouging in the food and grocery sector.

• Albanese promises ‘heavy fines’ for price-gouging supermarkets: Prime Minster Anthony Albanese says the government will impose “heavy fines” on supermarkets if they are found to have price gouged.