Australia Consumer Prices Gain Less Than Forecast; Aussie Drops

Australia Consumer Prices Gain Less Than Forecast; Aussie Drops

Sergio Dionisio/Bloomberg

Competition between Australia’s two largest supermarket chains, Woolworths Ltd. and Wesfarmers Ltd.-owned Coles, has driven grocery discounts. A push to sell milk at A$1 ($1.05) a liter contributed to a 27 percent profit fall at the dairy and drinks division of Kirin Holdings Co.’s Lion unit, the company said in August.