‘Chumps’: Karl Stefanovic’s fiery call after supermarket inquiry

The Today host has teed off after the long-awaited findings of an inquiry into the supermarket sector was released overnight.

Karl Stefanovic has confronted Treasurer Jim Chalmers over the conduct of big supermarkets in a fiery interview accusing retailers of treating consumers like “chumps” and asking if he was “the ambassador for excuses”.

Australia’s consumer watchdog has released its final report from a year-long supermarket inquiry into price-gouging, dodgy discounting, and shrinkflation – the practice of selling smaller quantities for the same price.

The ACCC inquiry found that the market dominance of Woolworths – that controls 38 per cent of supermarket grocery sales nationally – and Coles that controls 29 per cent – had created an “oligopolistic” effect.

Karl Stefanovic probed Jim Chalmers after the inquiry’s findings were released. Picture: Channel 9

But despite those conclusions, the regulator has resisted Peter Dutton’s calls to deliver greater powers to break up the two major corporations warning there was no “silver bullet”.

“Australians are still feeling that pressure at the checkout,’’ Mr Chalmers told Today.

“And that’s why we’re cracking down on the supermarkets and the ACCC report, which has just been released, will help us go about that. We’re working to make it easier for new entrants to compete with the two big supermarkets in particular.

“We don’t want the supermarkets to be treating Australians like mugs.”

But Today host Stefanovic then interjected that nothing was changing.

“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.”

The Treasurer stood by his record in office. Picture: Channel 9

As he outlined pressures on small business, Stefanovic then asked, “You aren’t just becoming the ambassador for excuses, are you?”.

“Oh, of course not, Karl. You know, I’ve said to you today and I’ve said on a number of occasions … I take responsibility for the decisions that we’ve taken in the economy,’’ the Treasurer replied.

“I think those decisions have been vindicated by the fact that inflation is coming down. Real wages are growing again. They were going backwards when we came to the office. “Unemployment’s low. Interest rates have started to come down. We’ve got the debt down. Growth’s rebounding in our economy. These are all welcome and encouraging signs that the Australian economy is turning a corner.

“But we know that people are still under pressure.”

Grocery prices have been a key issue during the cost of living hike. Picture: NewsWire

The Coalition has promised to install a Supermarket Commissioner to privately mediate disputes between farmers and supermarkets and expand the powers of authorities to force companies to divest assets in extreme circumstances.

“There are complaints, understandably, from farmers and suppliers and many others in the supply chain, but equally, there are many complaints validly made by consumers who are worried about what it means when they go to the checkout with ever-increasing prices,” Mr Dutton said last year.

In a statement, Coles said the company was also under pressure from rising rents and electricity prices.

“We do not control these inflationary costs in the economy – but they contribute to higher grocery prices for Australian households,” Coles said.

ACCC Chair Gina Cass-Gottlieb. Picture: John Feder/The Australian.

“Coles has worked hard to keep grocery prices low, with grocery inflation of just 1 per cent – excluding tobacco – for the first half of this financial year.

“While of no comfort to households and families, the ACCC’s own analysis shows grocery price inflation in Australia has been lower than in countries like Canada, the UK, US and New Zealand.

“We will review all of the recommendations in detail,” the statement said.

“We have listened intently and have already made changes such as simplifying our promotional tickets, providing additional information to customers about promotions and are working to make it easier for customers to compare products through clearer unit pricing.”

News.com.au has reached out to Woolworths for comment.