Profits v Wages, what's driving inflation?
Follow The Money
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The Role of Corporate Profits in Driving Inflation
The Reserve Bank has lifted the official cash rate to 4.1%. This is the 12th rate rise since May last year. The major Australian companies have been reporting massive profits and having a big impact on inflation. While the Reserve Bank is worried about people's wages being too high, the data shows that inflation would actually have stayed within its target range. 69% of that inflation has caused by excess profits from large corporations.
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