Coles issues an urgent warning to Australian shoppers

Coles has revealed supermarkets are being forced to rapidly increase their consumer prices as food suppliers demand compensation for soaring production costs. Shoppers have been facing increased prices at supermarket checkouts amid skyrocketing inflation Woolworths chief executive Brad Banducci, who runs Australia's biggest supermarket group, earlier this year also revealed the company had already seen price boosts of two to three per cent, with more supplier fee increases expected soon. Coles CEO Steve Cain said supermarkets are being forced to rise prices as suppliers call for cost increases The dire warning comes after the nation's peak body for food and grocery manufacturers announced costs have increased 700 per cent since the pandemic, which would partially be passed on to customers. How YOUR bills in December would compared with now MORTGAGE: Borrower with a $600,000 mortgage would see their monthly repayments rise by $460 to $2,844 as interest rates rose five more times PETROL: A doubling of fuel excise back to 44.2 cents a litre would see a bill to fill up a Toyota RAV4 rise by $48.60 a month ELECTRICITY: A doubling of power bills meaning $118.67 more a month as a doubling of wholesale power costs are passed on to consumers GROCERIES: A family shopping at Aldi would see their monthly grocery bill rise by $42.47 should inflation stay at 5.1 per cent 'This perfect storm of energy price spikes is doing enormous damage to our employers, to our households, and to our national economy,' he said. What YOU could be paying by Christmas $500,000: Monthly repayments rising by $383 from $1,987 to $2,370 $600,000: Monthly repayments rising by $460 from $2,384 to $2,844 $700,000: Monthly repayments rising by $537 from $2,781 to $3,318 $800,000: Monthly repayments rising by $614 from $3,178 to $3,792 $900,000: Monthly repayments rising by $691 from $3,575 to $4,266 $1,000,000: Monthly repayments rising by $767 from $3,973 to $4,740 Data based on variable rate rising from 2.54 per cent to 3.94 per cent as the Reserve Bank of Australia raised the cash rate from 0.35 per cent to 1.75 per cent From September 29, fuel excises are doubling back to 44.2 cents a litre Petrol From September 29, fuel excises are doubling back to 44.2 cents a litre.