How corporate profits are making inflation worse

Australia has seen a series of record corporate profits posted in the last few weeks.

They come as millions of average Australians are being squeezed. Mortgage repayments, rent, and the cost of almost everything is going up – but wages aren’t keeping up.

So, how are corporations posting record profits right now? What’s the impact of profits on the prices we’re paying? And why is it that the only answer to inflation is interest rate hikes?

Today, national correspondent for The Saturday Paper Mike Seccombe, on how corporate profits are driving the cost-of-living crisis.

Socials: Stay in touch with us on Twitter and Instagram

Guest: National correspondent for The Saturday Paper, Mike Seccombe.

See omnystudio.com/listener for privacy information.