Profits v Wages, what's driving inflation?
Follow The Money
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The Profit Crisis in Australia
Australia is the world's largest exporter of liquefied natural gas and coal. The mining industry could obviously afford to pay its work as much higher wages, but strangely it chooses not to. UBS economist Paul Donovan says, the broadening of inflation beyond commodity prices is more profit margin expansion than wage cost pressures. Only 18% of the inflation is caused by what people imagine as a wage prices spiral.
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