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Up, up, prices are up

Politicians have tried to blame supermarkets for higher grocery bills. But higher costs are the reason, not corporate greed.

Aug 30, 2024
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Up, up, prices are up
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Big business continues to get bigger. Earlier this week, Coles, an Australian supermarket chain, announced its earnings. The grocerโ€™s annual sales and profits surged. Revenues jumped 4% to A$43.6bn ($29.6bn), and the firm's net profit after tax hit A$1.1bn. Cue the political outrage. "Up, up, profits are up," wrote Adam Bandt, the leader of the Australiโ€ฆ

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