Supermarket profiteering is driving high food prices and it needs to be reined in urgently, the Green Party says.

“The cruel truth is that food price rises driven by supermarket profiteering are making it harder and harder for people to afford to eat. The evidence for an excess profits tax on supermarkets could not be clearer,” says the Green Party’s spokesperson for commerce and consumer affairs, Ricardo Menéndez March.

“Data released today shows once again that food prices are at record highs.

“Over the last 12 months, grocery food prices increased by 14 percent, while the price of fruit and vegetables prices increased by 22 percent.

“The data comes only a few days after reports that supermarkets are marking prices up by up to 55 percent on essential items like vegetables.

“Supermarkets are increasing prices for the basic goods that we require to survive.

“Lower-income families spend most of their income covering the essentials like food and are hit the hardest.

“Meanwhile, the two largest supermarket corporations in Aotearoa are making $1 million in profits per day.

“The Government needs to urgently step in and tax excess supermarket profit and use the money to help people.

“Not only this, but we need the Government to get on and pass the Grocery Competition Bill without delay. We’re also long overdue a serious look at the need to force supermarkets to divest their subsidiary companies.

“We also need longer-term solutions, such as ongoing investment in initiatives like urban food gardens and a long-term food strategy to ensure the people, rather than the demands of global markets and profit hungry corporations, are at the heart of food systems and policies.

“Only more Green MPs and holding the balance of power can make this happen,” says Ricardo Menéndez March.

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