Australia Post is planning to raise prices - especially for small business parcels.
👉 Background: Australia Post has been the backbone of Australia's communication system. It first delivered the old snail mail, then it started delivering parcels. In more recent times, it's been getting its tentacles into digital identities.
👉 What happened: Now, Australia Post is planning to raise prices - especially for small business parcels. The price increases range from 3.5% to a whopping 9.95%. And these price hikes will affect business letters and domestic parcels.
👉 What else: Australia Post said they need to hike the prices to deal with inflation within their own business. But ultimately, it's likely that these costs will be passed onto consumers.
💡Pricing decisions from a single, national company have ripple effects across whole industries.
💡While it's a logical step for businesses to raise prices, it often leads to inflationary pressures in the economy.
💡Similar things have happened in the energy industry, where rising wholesale prices have been pushed onto consumers.
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