Consumer staples sold off as cost of living bites
Vesna PoljakCompanies editor
Coles and Woolworths were sold off on Wednesday as the leading ASX consumer staples stocks face a tougher outlook framed by accelerating inflation pressures in the economy.
The consumer price index rose 7.3 per cent in the September quarter on an annual measure. On Tuesday night, the Albanese government handed down its first federal budget, which offered no further cost-of-living relief.
Loading...
Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Equity markets
Fetching latest articles