The Australian Bureau of Statistics has reported that grocery prices have fallen over the past year as household staples such as fruit, vegetables and bread have all gotten cheaper. The Bureau of Statistics says the price of cheese has slipped 1.9 per cent in the past year, meat and seafood 2.1 per cent. The annual consumer price index (CPI) released on Wednesday shows that the annual inflation rate has fallen to 1.2 per cent, the lowest level in over a decade. Federal Treasurer Mr Wayne Swan said... ...Read more »

Coca Cola Amatil is expecting to make around A$165 million in profit from the sale of its shares in the joint venture beverage manufacturer Pacific Beverages to other shareholder, multi-national brewer SABMiller. Pacific Beverages brands include Peroni, Miller Genuine Draft and Pilsner Urquell. Coca Cola Amatil expects to record a profit of around A$60 million for 2011, comprising the above-mentioned profit less around A$105 million in the extra costs associated with the restructuring of fruit producer... ...Read more »