Aussie shoppers are getting some much-needed relief at the checkout as Coles revealed its whopping 2024 financial year (FY24) results on Tuesday morning which showed inflation nosediving.
Inflation showing signs of relief as Coles 2024 financial year results reveal price pressures down more than four per cent
The grocery chain’s result was driven by a staggering 30.1 per cent rise in online sales and a 9.2 per cent rise in alcohol sales. “In their results today they showed that in the previous financial year inflation was 6.7 per cent across Coles supermarkets. In other words, prices went up almost seven per cent over a 12-month period,” he told AM Agenda.
Overall inflation for food and non-alcoholic beverages for the year up to June 2023 was 7.5 per cent, while the price hike for alcohol and tobacco was 4.7 per cent.
Coles Group FY24 Financial Year Results Coles
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