Thought of the week. The impact on our dollar
Grocery prices, frozen and fresh, in light of the floods what will happen, what % price increase can we expect and what should we do we will speak to Jos de Bruin the CEO of the Master Grocers Australia who will give us a more realistic insight as to what will occur.
The facts are that the recent high in food price inflation was September 2006, where food inflation reached 9.9% Fruits prices (+92%) predominantly on the back of cyclone Larry in QLD were to blame according to the ABS.
Banana price in the September 2006 quarter (on June) rose +45% (180% annualised) Vegetable prices rose 9% over the year to September 2006.
In Melbourne we experienced the flash flood in March where we had hail storms the size of golf balls, but what does our general insurance cover and what is the difference between storm damage and flood damage. Tony Carmisciano from Midlands Insurance brokers who is an expert in the field will lets us know.
In relation to the stock market are there any bargains or do we avoid QLD companies listed on the ASX. Some companies have made some interesting announcements over the last few days include The Reject Shop Asciano, Leighton Holdings, Caltex, Dulux, Elders, Suncorp, QR National, Bank of Queensland and coal companies such as Whitehaven and New Hope.
Thought of the week
Then finally we will be joined by Chris Edwards A former Melbourne boy who moved to Brisbane around 10 years ago to start a business called http://www.wokon.com.au/. He will tell us of his story this week in Brisbane as he tries to manage the floods and his business.
If you can tune in do so or catch the show later on at www.thefinanceguru.com.au