Woolworths boss hopes slowing inflation will soon mean lower supermarket prices

Woolworths chief executive Brad Banducci is optimistic that slowing inflation will eventually be passed on in cheaper supermarket prices. But Mr Banducci says there could be a lag with prices reductions not visible until after Christmas. Posting a full year profit of $1.6 billion, Mr Banducci confirmed a rise in shoplifting and incidents of organised gangs stealing goods and reselling them. Reporter: Senior Business Correspondent Peter Ryan Featured: Brad Banducci, Woolworths chief executive