Australia’s big supermarkets increased profit margins through pandemic and cost-of-living crisis, analysis reveals
by Jonathan Barrett from on (#6BTWW)
Coles and Woolworths have defended the increased margins, but data shows shoppers are being charged more than enough to cover additional costs and other rising expenses
Australia's big supermarket chains persistently increased their margins on their food businesses throughout the pandemic and cost of living crisis, with critics arguing the pricing decisions are evidence of inflationary profiteering.
Guardian Australia analysis of Coles and Woolworths financial accounts over a five-year period show the dominant supermarkets were able to use the pandemic to not just sell more goods, but also increase the amount they profited from sales.
Continue reading...