Market Chatter: Coles CEO Says Grocery Price Increases 'Inevitable' Amid Fuel Cost Surge

MT Newswires Live05-04 13:00

Coles Group (ASX:COL) Chief Executive Leah Weckert said price hikes for groceries are "inevitable" as the supermarket chain and its suppliers deal with higher fuel costs, Bloomberg reported Monday.

Speaking at an Australian Shareholders' Association conference in Melbourne, Weckert said that the trend is showing up in supermarket data, with shoppers opting for beef mince or chicken over steak, while also making fewer trips to stores to cut fuel costs.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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