It’s official, the cheapest place to shop between Coles and Woolies is Coles, by as much as $400 a year – which is quite a bit in grocery terms. This week the Macquarie Bank has released its MICAWBER report, which basically compares the cost of two shopping baskets, one from Coles and the other Woolies. Coles came out on top for being the cheapest by approx 3.5% on a weighted basis.