Little consolation for SMEs in June CPI

The below-expectation June CPI figure of 6.1 per cent does nothing to defuse concerns over rising fuel, materials and labour prices hitting our most vulnerable industries, says the manager of SMEs, insolvency and public practice at CPA Australia, Kristen Beadle. Speaking on this week’s Accountants Daily podcast, Ms Beadle said for many businesses the pandemic relief measures had just postponed the inevitable and today’s unfavourable economic conditions meant there would be business casualties. “There’s a lot of stress among our members. This isn’t just food and construction – it’s across the board. There’s a lot of concern around long-term viability,” she said.