Statement delivered by Dr Jeffrey Wilson, Director of Research and Economics, Ai Group.
Manufacturing plays a key role in positively contributing to cost-of-living issues during the recent period of high inflation in Australia. Our manufacturers directly make the goods used by Australian households (food, beverages and consumer durables), and indirectly contribute by producing the industrial inputs used across the economy. Manufacturing is also highly-trade exposed, and faces stiff competition from global industrial giants in both our local and export markets.
An informed discussion of the role of industry in cost-of-living issues must start from the recognition that inflationary pressures affect both business and households alike.
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