Australians buckling under the cost of high food prices are being urged to have their say before an inquiry closes its submissions.

Woolworths and Coles have been accused of price-gouging customers and stifling competitors while undermining suppliers.

The Australian Competition and Consumer Commission (ACCC) is reviewing prices and competition in the sector with submissions for the inquiry closing today.

The Albanese government has also appointed former Labor minister Craig Emerson to review the effectiveness of the grocery code of conduct, which governs how the supermarkets treat their suppliers.

The Greens and the coalition are working separately on powers to break up the supermarket giants.

But Labor does not back the push, as the government believes breaking up the major companies could lead to rising food prices and risk job security for workers.

Assistant Competition Minister Andrew Leigh said the government would wait for the ACCC to hand down its report.

Previous competition inquiries had failed to recommend divestiture, he said.

Leigh said Labor did not view breaking up the giants as a “significant tool” in the fight against market concentration.

– AAP