used to underpin the profit-driven inflation claim, and both say unions overestimate the issue of profiteering.
“The RBA has observed that some firms were indexing their prices, either implicitly or directly, to past inflation. The RBA factors this into its analysis and forecasts of inflation,” the central bank said. Nonetheless, some of the nation’s top business leaders privately agree there are pockets of the economy where price gouging is hurting consumers, and a national public inquiry could expose some dodgy behaviour.Ms McManus said: “It’s only right we take a look to see what’s fulling these rises and what can be done about it.
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