The cost of living is surging, but what is to blame for higher prices?
The cost of living has skyrocketed in Australia and experts are pointing the finger at many different sources.
But a new research report from the Australia Institute said higher inflation was not the fault of rising wages, but instead the companies that keep pushing prices higher.
“The national accounts show it is rising profits, not rising costs, that are driving Australia’s inflation.”.
“It’s a shortage of competition, not a shortage of skilled labour, that is driving up the cost of living in Australia.”.
“Given that profits currently account for a record share of GDP, there is simply no truth behind the assertion that the Australian corporate sector has ‘no choice’ but to pass on cost increases in full in the form of higher prices.
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