Coles Group boss Steven Cain says the possible invasion of Ukraine by Russia and a worker shortage in Australia due to lack of migration are two events that could keep inflationary pressures up at the retailer.
Mr Cain told The Australian Financial Review that global events like oil prices jumping on the back of tensions between Russia and the West over Ukraine, and the lack of backpackers coming to Australia, means wage inflation will increase.
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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
