Self-described language nerds at the Australian National University have chosen a term that taps into simmering cost-of-living rage as their word of the year – Colesworth.

The portmanteau, or blended word, refers to the power and market share of Australia’s dominant supermarket chains, according to the university, and hints at “what is perceived as an unfair duopoly”.

Colesworth beat out “breaking”, which is closely associated with Rachael Gunn’s emotive Olympic performance. Other short-listed words and phrases included “climate trigger”, “ute tax” and “yimby”, which refers to those who support nearby high density developments to combat housing shortfalls.

“Aussies walk out of the supermarket with less after paying more, but then hear news of massive profits in the supermarket sector,” said Mark Gwynn, senior researcher at the university’s National Dictionary Centre.

“And with official investigations into some of the pricing practices at Australia’s two largest supermarkets, it’s no wonder that ordinary shoppers have become cynical.”

The lexicographic authorities at the centre, who help edit Oxford’s Australian dictionaries, select a word or expression each year that has gained prominence.

Last year, they chose “Matilda” in the aftermath of the football team’s stellar World Cup campaign which included a nail-biting quarter-final penalty shootout.

In 2022, the word “teal” reigned supreme in a nod to the electoral success of the independent candidates at the federal election. Pandemic terms “strollout”, referencing delays in the vaccine rollout, and “iso” dominated the early Covid years.

While the word “Colesworth” is rarely used in official communication, it is regularly used by commentators and on social media to allege the big two supermarkets are more or less the same.

The major supermarkets have been subject to multiple parliamentary and regulatory inquiries this year over their pricing practices and perceived lack of competition in the sector.

This week, Woolworths executives were asked at an Australian Competition and Consumer Commission hearing whether they compete with their rival, or just price their products the same, given their own documentation refers to a strategy of “neutralising Coles”.

The Woolworths chief executive, Amanda Bardwell, said the supermarket “competes on price every single day”.

Separately, the ACCC is suing Coles and Woolworths over allegations they misled shoppers by offering “illusory” discounts. The supermarkets deny the claims.

While there is no shortage of word-of-the-year announcements by different language authorities, the ANU’s list is distinctly Australian.

Dictionary publisher Collins named “Brat” as its 2024 word of the year, inspired by English pop star Charli xcx’s popular album. While the word traditionally refers to a badly behaved child, it can now refer to a “confident, independent, and hedonistic attitude”.

Last year, Oxford University Press chose “rizz” as its word of the year, which is something the major supermarket brands lack.

Researcher Roy Morgan said in May it had “never seen a reputational crash as dramatic as Coles and Woolworths”, after both companies saw customer trust in their businesses plummet.