Increased political pressure on supermarkets has led to lower costs at the checkout, the prime minister says, as a parliamentary probe prepares to hand down findings into grocery price gouging.

A Senate committee, which has investigated the market power of the supermarket duopoly of Coles and Woolworths and its price-setting practices, will release its final report on Tuesday.

The inquiry has been examining allegations of price inflation by major supermarkets while suppliers and producers were being undercut.

Producers told the inquiry that many in the industry were fearful of speaking out against the practices of the supermarket chains for fear of losing contracts.

Prime Minister Anthony Albanese says the government will consider the findings of the report, but has not yet seen the recommendations.

“We’ll have a look at the report on its merits,” he said.

“I don’t give commitments to adopt things that haven’t been released yet … with due respect to the Senate, some of he things they come up with sometimes are good, sometimes not so good.”

Albanese said recent figures that showed reductions in grocery prices showed major supermarkets were taking notice of increased pressure from politicians and customers to take action on the cost of goods.

“I have no doubt that that’s the case, that there’s been a focus on that, and the outcome is there to see in the data that was released just a week ago,” he said.

The Senate committee grilled Coles chief executive Leah Weckert and outgoing Woolworths boss Brad Banducci, the latter being threatened with jail time for holding the Senate in contempt for not answering questions about the supermarket’s profits.

The Greens-led inquiry has been one of several probes into cost-of-living concerns at supermarkets in recent months.

A review of the food and grocery code of conduct, which governs the relationship between suppliers and supermarkets, recommended fines of $10 million for companies that don’t comply.

The review, led by former Labor minister Craig Emerson, also called for the current voluntary provisions to be made mandatory.

While there have been calls for divestiture laws to break up the supermarket duopoly, the review dismissed the idea.

The Senate inquiry heard similar calls for break-up powers, led by former consumer watchdog chair Allan Fels.

The Australian Competition and Consumer Commission has also been holding its own inquiry into supermarket practices and the relationship with suppliers.

– AAP