Business Uncertainty

Not fully yet. We are still seeing sort of the lagged effects of uh these cost changes coming through. And that's sort of natural. We we expected this. We expected to see a bit more of an impact in May, and we've seen that, but again, it has been limited. We expect a bit more to show through again in June. But you know, to your last conversation, Mike, you know, what is everyone planning for? What does that mean for businesses when they're thinking about setting prices, you know, sometimes three months in advance? Uh, there is still, I think, a lot of uncertainty there. What I think is also probably important is that the grocery supply cost index normally doesn't j uh jump around all that much because it's just got so many items. We're talking 60 uh thousand plus items that we're looking at here. So what we've seen in the past is that generally you haven't seen everything that's been uh repriced, and that's one of the things we're watching at the moment is that breadth. And so the fact you've now seen the largest number of items uh increase in cost in a year, does again just start to give a bit more of a feeling that yes, the pressure is starting to roll through, but it's still fairly uncertain and still fairly early days.