Shoplifting booms!

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Supermarkets are giving up $25m a week in stolen goods:

Supermarket giants are experiencing skyrocketing rates of thefts, with Woolworths revealing it loses up to $25m in produce each week.

Retail theft increased by 48 per cent in the two years to June, according to the NSW Bureau of Crime Statistics and Research’s latest report, with significantly more incidents in 2022-23 compared to 2019.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.