Business accused of 'greed-price spiral' as profits again easily outstrip wages growth

ANZ Bank's economics team described the business data from the bureau today as a mixed bag.

The lower business production volumes data point is consistent with other ABS figures showing real retail turnover was lower in December.'Greed-price spiral' In the meantime, though, some businesses are generating record profits as they stretch their margins. "Their rate increases are likely to cause a significant slowdown in the economy, quite possibly a recession, later this year," Jim Stanford says."And then you'd have hundreds of thousands of workers lose their jobs on top of the problem of inflation that we already face."

Come on, they’ve been price gauging for the past 3 years, and used Covid as an excuse. It’s disgusting and they should be held accountable for it,

Also, the Albo lefty crew said expect energy costs to rise by up to 50% in the next 2 years. Well done Comrade Albo! His mate Gov Lowe screwed the pooch on forecasting interest rates and inflation. So now many aussie families will be struggling by Xmas. laboraregoodatmoney 😂

ahhh be a lefty stay poor go woke go broke, smoke, toke, float, bloat and rope um...kinda rings true, eh!

the heading sounds like, government accused of greed tax grab and interest rate hikes not comparable with living cost.

No - it is the cost burden consequences of climate change claptrap imposts and workplace interference. Energy,fuel, transport, products, insurance, staff & benefits - all more expensive. Be honest!

Proof that we don't have a labour shortage. It's just an excuse to bring in more cheap labour from 2nd/3rd world countries.

part of the trickle down economics, getting pissed on.

When are you going to update your $50 note picture

. Pay nurses more now. Pay teachers more now. Pay public servants more now. Join your union. Get militant. Or sit down and shut thefkup like a good boy. .

. DEMAND HIGHER WAGES NOW. IT IS AFFORDABLE. WAGES DON'T CAUSE INFLATION. .

A 'bullshit' story from ABC!. Try telling the '000s of Small Bus in discretionary spending sector that their profits are going through the roof!. Try a decline in sales, gross profit & increased costs!. Perfect storm to hit the sector that employs millions of Australians auspol

Capitalism

It’s the duty of any company’s management to maximise profits. It’s the regulatory burdens plus uncertainty coupled with increased demand that drives up prices.

The land of opportunity becomes the land of great rip offs fraud and scams 👌

Cant see the ACCC banging their chest and cant see the goverment singing out from the top their lungs ..

Corporations are required under company law to give first priority to making payments to shareholders.

Of course everyone has jumped on the bandwagon. Everything else is going up, let’s just put our prices too. Price gouging is unbelievable. Just wait until everyone else’s profits come through. The shareholders will be elated.

McManus. Economic illiterate. Irrelevant.

An article based on nonsense. You've outdone yourselves. Did you offset those magical profits from inflation growth? Ooops that would put most categories into the -ve. Couldn't have that, it might tell the truth.

Profits aren't just going to make themselves

Corporations. It's Corporations. Don't insinuate that it's small business doing the gouging.

stop voting Labor then. it happened on their watch.

Too bad the Reserve Bank thinks that the way to stop this is to push enough citizens into desperate circumstances so companies will be forced to lower their prices...

Your successful barracking for increased mass immigration has suppressed wages. Who knew?

Can the ABC explain how corporations set their profit rate? Profit is not an input in production, how can it be “driving” inflation?! Prices drive inflation, that’s what inflation is! The correct headline is “Higher Prices Drive Inflation, Not Wages”

Fixed it Business caught out driving the 'greed-price spiral' as profits again easily outstrip wages growth The evidence is very very clear

ABC is going hard at this new narrative. Probably as a distraction from Albo’s failings

Mean while Albo's on a never ending selfie tour sad

Business profits easily outstrip wages growth and driving inflation up.

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