ZB

Consumer NZ: Countdown price-freeze masks real problem, industry is broken

Author
Newstalk ZB,
Publish Date
Fri, 6 May 2022, 7:40am
(Photo / File)
(Photo / File)

Consumer NZ: Countdown price-freeze masks real problem, industry is broken

Author
Newstalk ZB,
Publish Date
Fri, 6 May 2022, 7:40am

A gesture from one of our two big supermarket companies.

Countdown says from Monday, it's putting a price freeze on 500 items for the winter months, everything from cheese and butter to carrots and pumpkin.

It's in response to the cost of living crisis.

But, Consumer New Zealand Chief Executive Jon Duffy told Mike Hosking it's just masking the real problem, which is that the industry is broken.

“Supermarkets making more than a million dollars in excess profits a day. This isn’t going to stop that, this is not fixing that in any way, just really an acknowledgement by Countdown of the role they’re playing in driving up the cost of living.”

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