bosses were questioned about price-gouging allegations, their conduct towards suppliers and, in one case, threatened with jail time, shoppers have been warned to not expect price drops anytime soon.While both CEOs discussed the importance of providing competitive prices, Swinburne University corporate governance expert Helen Bird said the hearings are unlikely to lead to any drop in prices in store – even if the explanations by the supermarkets about their pricing practices are welcome.
She also said Coles would discuss ways to tell customers when shrinkflation – smaller product sizes sold at the original or higher price – was occurring. Banducci, for his part, denied allegations of price-gouging, saying Woolworths tries to help its customers."We are working very hard on an everyday basis to provide value for consumers... and our goal is to help them."voluntary supermarket code of conduct being made mandatory
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