Food prices are rising and the escalating conflict between Russia and Ukraine is just one of several pressure points that could push them higher still, says Woolworths chief executive Brad Banducci.
On Wednesday, Australia imposed sanctions against Russia over its occupation of the northern regions of Ukraine, following on from the US and UK which had responded earlier to Vladimir Putin’s military action. This pushed oil to nearly $US100 a barrel, resulting in higher prices at the fuel pump.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
