Shoppers are being warned to brace for higher prices on supermarket shelves, from baked beans to bread to beer.

The head of the Australian Retailers Association Paul Zahra says a ‘perfect storm’ of supply chain pressures arising out of COVID has turned into a ‘tsunami’ of price pressures thanks to record petrol prices.

Truck operators are saying they will have to pass on higher fuel costs and supermarket bosses are saying that price rises for consumers are inevitable.

Today on Please Explain, business reporter Dominic Powell joins Jessica Irvine to find out if price hikes really justified, and which products will be most affected?