Labor has promised to make excessive supermarket pricing illegal, to fix what it has labelled a gap in the nation's competition and consumer protection framework.
Laws are set to be introduced by the end of the year if the government is re-elected.
"I got asked today ... how do you know what's price gouging? Price gouging is when supermarkets are taking the piss (out of) Australian consumers," Mr Albanese told reporters.
"I think there are absolutely examples where they have been ... Australians know that."
Supermarkets who are found to have price gouged would be slapped with "heavy fines", Mr Albanese said.
But Opposition Leader Peter Dutton cast doubt on the plan and reaffirmed that the coalition would enforce supermarket divestiture powers as a last resort to address anti-competitive behaviour.
"This is the sixth policy review that the prime minister has offered in three years. Prices have gone up by 30 per cent," he told reporters in Sydney while touring a brick factory.
"He is as weak as water and the supermarkets know it and Australians know it."
The prime minister started Sunday in the Labor-held seat of Canberra, visiting a family at their home in Downer.
Meeting single mum Ren Knerr, her mother Filomena and her children Hawkins, 2, and Teilo, 11, Mr Albanese tucked into a spread put on by the Italian grandmother who said she baked and cooked far less than usual due to high food prices.
"I'm trying to keep fit on the campaign and I'm breaking all my rules," the prime minister laughed.
The family gifted him a pair of cavoodle-themed socks in a nod to his dog Toto.
Coles and Woolworths have rejected claims of price-gouging, arguing their margins are comparable to their peers in countries including Canada, the UK and the US.
Laws to protect customers from companies engaging in the practice already exist in the UK, European Union and dozens of states in the US.
Labor would first implement recommendations from the Australian Competition and Consumer Commission's supermarket inquiry report to improve transparency about prices, promotions and loyalty programs.
A task force would be set up to advise on introducing an excessive-pricing regime for supermarkets to be policed by the consumer watchdog.
The group would include Treasury, the consumer watchdog and other experts who would consult and report to the federal government within six months.
The Australian Retailers Association labelled Mr Albanese's price gouging comments "more taxpayer-funded deflection".
"Eight taxpayer funded inquiries have failed to find any evidence of supermarket price gouging," the association's Fleur Brown said.
Greens leader Adam Bandt said Labor had followed the minor party's lead on price gouging.
"Their first step is to say no (on Greens policies) and then they adopt them, and we take that as a really good sign,:" he said.
"These supermarkets are abusing their power and ripping off customers."
Nationals leader David Littleproud said the supermarkets didn't fear the "weak" prime minister, with Australian families to pay the price.
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