From price gouging to promotion tactics, here are the key takeaways from the ACCC's supermarkets report

It's been 12 months in the making, but an inquiry into Australia's supermarkets by the competition watchdog has been unable to conclude whether price gouging is taking place. Woolies and Coles have 'limited incentive' to compete hard on price, ACCC finds Photo shows A Woolworths sign next to a Coles sign outside the shops The consumer watchdog finds Australia's supermarkets are more profitable than their global peers and the two majors don't need to compete "vigorously", but the ACCC stops short of declaring grocery prices excessive. However, the report noted it did not seek to determine whether the prices or margins of Coles, Woolworths, Aldi or Metcash were "excessive", as charging high prices, having high margins, and exercising market power is not prohibited under the Competition and Consumer Act, which regulates supermarket conduct. The ACCC found that Woolworths makes up 38 per cent of all supermarket grocery sales nationally, while Coles has 29 per cent — and it expects that dominance to continue. That said, the watchdog believes Woolworths and Coles will still dominate the supermarket sector, and doesn't see that changing for the "foreseeable future", despite the presence of Aldi and Metcash.