The CMA has launched a project to look at the unit pricing in the grocery sector which, I think we can all agree, is a particularly important matter given the ongoing cost-of-living crisis.
The CMA has published its announcement in respect of the project recently, so we are very much in the early stages of this particular one. The matter also follows a previous Super Complaint in respect of the complexities and issues that could have been impeding the ability of consumers to make informed choices in respect of price comparison.
Read on for a little bit of information about this latest CMA project. I think we can all agree it is one to watch given that we are all feeling the pinch at the moment.
CMA launch project to look at unit pricing in the groceries sector
The Competition and Markets Authority (CMA) has launched a project to look at unit pricing in the in-store and online grocery sectors. This is in relation to how costs are displayed for products with reference to units of measurements, like weights or volumes, to ensure that consumers can then the compare relative costs of different products.
According to the CMA, their project looking at the unit pricing in the groceries sector follows on from the 2015 Grocery Super Complaint. The Super Complaint was in respect of the CMA concluding that there were complexities and inconsistencies in respect of unit pricing in the grocery sector that could impede the ability of consumers to make meaningful choices.
The CMA project has just been launched and is fresh in its early stages. The CMA said that it will be looking at any issues that have been identified following the Super Complaint referenced above, and that it will also be looking at legal compliance and consumer awareness. The CMA said that they expect the next stages in respect of how the project is proceeding to possibly come to light toward the end of this year.
A key matter in the cost-of-living crisis
The CMA looking into the unit pricing in the grocery sector is quite important in the context of the ongoing cost-of-living crisis that the UK is enduring at the moment. We really are all feeling the pinch, with the inflation of our typical shopping budgets incredibly high, which is having a significant impact on all of us, particularly those on lower incomes.
As such, now more than ever, consumers need to be able to make informed choices, and they need to be able to see information clearly to help them to save money and make the best of their budgets. If there are too many complexities and issues, and if legislation is not being abided by, consumers could be losing out, which is something that the CMA needs to address.
One to watch
As we have said above, given the ongoing cost-of-living crisis, this matter that the CMA is looking into really is one to watch. We will be continuing to keep an eye on the developments of this particular matter, and we trust that the CMA will be able to take action where it may be required.