Corporate Profits Aren’t Fueling Inflation: Australian Treasury

A store worker delivers fruit and vegetable produce at Paddy's Market in Sydney, Australia, on Oct. 22, 2022. Lisa Maree Williams/Getty Images

The Australian Treasury Department has refuted the idea that corporate profits are worsening inflation. However, it said the mining sector played a small role in consumer price growth.

During a recent Senate estimates hearing, Treasury official Sarah Hunter said the department had analysed the impact of corporate profits on inflation.