Who Is REALLY Winning From The Cost Of Living Crisis? #shorts #australia #economy

By Scott Kuru

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Aussie wages grew just 3.2% over the past year. Meanwhile, Woolworths and Coles have both reported double-digit profit growth. Now don't get me wrong, I have NO problem with successful Australian businesses making money. We need more businesses growing, investing and employing people. The problem is when there isn’t enough competition. Coles and Woolworths account for roughly two-thirds of Australian supermarket sales. And we see similar concentration across banking, airlines, telecommunications and other essential industries. Competition forces businesses to fight for your money. When they don’t have to fight hard enough, consumers can end up paying the price. Do you think Australia needs more competition in its biggest industries? Let me know in the comments.

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