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(Reuters) -Wesfarmers Ltd cautioned on Friday that persistent elevated inflationary pressures and higher interest rates are expected to affect demand in parts of the Australian economy, as the retail giant posted an expected 5% rise in annual profit.
"Cost pressures in Australia and New Zealand are expected to remain elevated, driven by inflation, labour market constraints and wage cost increases," Wesfarmers Managing Director Rob Scott said in a statement.
Sales growth for the company's KMart...
>>> Read more: Australia's Wesfarmers warns of elevated inflation, posts 5% rise in profit
"Cost pressures in Australia and New Zealand are expected to remain elevated, driven by inflation, labour market constraints and wage cost increases," Wesfarmers Managing Director Rob Scott said in a statement.
Sales growth for the company's KMart...
>>> Read more: Australia's Wesfarmers warns of elevated inflation, posts 5% rise in profit
