Supermarkets respond to steel tariffs by increasing grocery prices by 50%

Australia’s supermarket duopoly Coles and Woolworths, a pair closer than Trump and Putin, responded to the US President’s tariffs on steel and aluminium by immediately hiking grocery prices by 50 percent.   

In a joint statement, ‘Colesworth’ claimed that there was simply ‘nothing they could do’, and that the price boost was completely out of their control, before denying that they had colluded in any way.

“As everyone knows, when the cost of importing steel to the United States goes up by 25%, then that has a direct impact on how much it costs us to sell shoppers a carton of milk. It’s simple economics,” they said.

“If anything, you should be mad at the farmers for the extortionate fees they charge us. Those fat cats are riding these tariffs all the way to the bank.”

Following the tariffs, the price of lettuce has skyrocketed from the previous amount of $30, to now cost the same as it would to just fly to the US and buy it there.

Economists have predicted that the same price hikes will also hit the real estate industry, as landlords need to do something to cover the losses this will cause for them.