Households are facing a surge of up to 25 percent in their power bills, as the new financial year brings a raft of new changes. The Australian Energy Regulator will increase the cost of electricity between 20 and 25 percent, heaping more pressure on people managing soaring cost of living pressures, including persistent inflation and…
Australian Leading Financial Expert Calls For Better Solutions to Inflation
June 13, 2023
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AustraliaAustralian inflationBusiness & Marketseconomic policieseconomyinflationinterest rate hikespersonal financerecessionReserve Bank of AustraliaWorld
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One of Australia’s leading financial experts, Mark Bouris, has called for better solutions to tame high inflation, expressing deep concern following the RBA’s June interest rate hike. In a piece published in news.com.au, the executive chairman of Yellow Brick Home Loans has asked for an explanation of the central bank’s latest decision to institute the…
Public Service Rejects Governments 10.5 Percent Pay Rise Offer
The Australian public service union has rejected the federal government’s pay rise offer, labelling it as “not good enough!” The Community and Public Sector Union (CPSU) voted overwhelmingly to reject the offer, with 86 percent of the 15,000 members who voted in the ballot choosing to turn down the government’s first offer. They had called…
Consumers Warned High Price of Australian Fresh Food Here to Stay
The high price of fresh fruit and vegetables won’t come down anytime soon according to fresh food suppliers. Speaking at a food security inquiry Claire McClelland from the Australian Fresh Produce Alliance said continuing high inputs for producers is keeping prices high. “Once a price is up it very rarely goes back down … once…
‘It’s Been Awesome’: Aussies Still Enjoying Their Fresh Seafood Over Easter Amid Cost of Living Pressures
Eating fresh seafood is a highlight and tradition for Australians over the Easter long weekend. Despite cost of living pressures, many are still enjoying this tradition over the long weekend as families and friends come together to mark the holiday. Fishmongers and traders geared up for the market’s busiest single day of the year, and were…
Increasing the Minimum Wage Is a Matter of Survival: Union Boss
The Australian Council of Trade Unions (ACTU) has said a seven percent pay rise to all award wages across the board is a matter of survival for Australians. ACTU Union Secretary Sally McManus said that a seven percent increase is essential for the minimum and award wage workers to keep them financially above water. “It…
Softening Inflation Brings Small Relief to Australians in February
March 29, 2023
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AustraliaAustralian Bureau of StatisticsAustralian inflationBusiness & Marketseconomyinflationpersonal financeWorld
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Australia’s monthly inflation rate decreased for the second consecutive month in February, providing a small but much-needed relief for households struggling with rising living costs. According to new data from the Australian Bureau of Statistics (ABS), the monthly consumer price index rose by 6.8 percent in the 12 months to February, down 0.6 percent from…
Aussie University Graduates Burdened by Student Debt in Committee’s Focus
Australian university graduates could face the biggest increase to their student debt in decades due to rising inflation. But a federal parliamentary committee is examining a bill that would abolish indexation of student debts and raise the minimum income required to start loan repayments. Australia’s higher education loan system is tied to inflation and increases…
Aussie Households Carry Rate Pain as Businesses Flourish
Australian households are bearing the brunt of the central bank’s determination to stuff the inflation genie back into its bottle, but not so much that business is suffering. Companies—particularly those in the manufacturing, accommodation and food, financial and insurance services, and professional service sectors—are bringing home the bacon on the back of robust trading conditions….
Who Can We Dump the Blame for Inflation On?
February 27, 2023
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AustraliaAustralian inflationBusiness & Marketsenergy transitioninflationInternationalOpinionViewpointsWorld
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Commentary Inflation is rising everywhere, which does not mean it’s not a problem for politicians in Australia, just that they are a subset of politicians everywhere. So we are seeing a global hunt for alibis and scapegoats. In Australia, the federal government and the union movement have chosen business—in particular mining and food—as their fall…
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