Consumers in Australia can expect grocery prices to remain high into 2025, as experts indicate significant reductions are unlikely. Retail expert Gary Mortimer from Queensland University of Technology noted that while food prices won’t dramatically decrease, improvements in discount promotions might occur, particularly with the Australian Competition and Consumer Commission (ACCC) set to release findings on supermarket pricing strategies in early 2025.
Despite the current economic strain, Mortimer suggested that supermarkets remain sensitive to public perception, which may lead to more consistent pricing and promotional offers, like substantial discounts on popular items. Over the past year, food prices have risen by 3.3%, with factors such as poor growing conditions affecting produce costs and ongoing supply issues contributing to higher egg prices.
As part of navigating these high costs, consumers are advised to take advantage of discounts and utilise apps like Frugl to find the best deals. Furthermore, the global market dynamics, including potential policy changes in the United States, could influence the prices of essential items in Australia.
In summary, while immediate relief from the soaring grocery costs seems unlikely, shoppers may benefit from strategic discounts and possibly more stable pricing in the new year.