Walk The World THe latest monthly data from the ABS revealed that inflation at the top line and core both rose in November, despite changes to the weightings.
As a result, this puts more pressure on the RBA for at least a 25-basis point hike in the cash rate in early February. The markets are still expecting more rate rises ahead.
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Blame the inflation on workers wanting wage increases typical never our fault behaviour of the RBA.
Milk $3 per 3ltr –> $4.50 is not 9.4%
It's 50%
As you know, if your bills go up 20% you want wages to increase they have already decreased into the pockets of Sydney, Melbourne, and businesses that made a killing during lock down like ARB $44mil straight into Andrew and Roger Brown or Mercedes who made a killing $52mil and kept it. The list goes on. Now we are so wealthy PNG Ukraine just hold their hands out.
Inflation is going up in NZ
CP Lie. Good one ABS.
Everything that has a beginning, has an end. Everything has its maximum/limit. Everything has its time. Are we witnessing this systems end? After all, all Fiat systems eventually return to thier intrinsic value, ZERO. Who knows such things….
How’s that million dollar apartment going
What Inflation? My protein powder has gone from $21.40 per kg 12 months ago to $39.80😐
You’re the only one over this (as usual) Martin. We all know the ABS and RBA numberwanged the last CPI reading when they changed the weightings of rent and energy in the Basket. It’s a trick that will only work for one or two months though. I suspect the RBA was hoping it would be enough to give them breathing room whilst they spent Christmas at their Bahamas holiday homes. They might have a bit more work to do when they come back next month…
Thanks Martin
The RBA dropped the ball with not increasing by .50% and only lifting by .25 😮😳🥹 that’s what happens when you try to please everyone 👀👀up we go .50 February 🤔😉👍
Im not sure who is doing the right thing. The RBA or the RBNZ . Australia, I think? , is at 3.10% and nz is at 4.25%. Australians mostly like floating mortgages so increases in rates react quickly to housing prices. But nzers prefer fixed rates and generally 1 to 2 year fixed so rate increases can have a delayed reaction, which is exactly what’s happening in nz . Australia’s downturn in housing has been quick even though there Ocr is lower. Nz has been a slow downturn although I expected that to pickup this year because a massive amount of nzers this year will have their monthly mortgage basically doubled or more. The 2 big gambles at the moment are, does inflation drop before to much damage or will there be a big trigger of a crash, likely from overseas, probably financially with banks like the GFC.
Given the RBA is basing interest rate increases on CPI increases it' just as well mortgage repayments aren't included in the CPI. That would mean that higher interest rates would cause higher mortgage repayments which would indicate the need for further interest rate rises.The circle would not stop.
Inflation will continue rates high 7 by mid decade.
I gave My Chilfren $200 for Chritmas and today they snuck out and spent $15 at Hungry Jacks and I said What the …. are You doing.but they only do this a couple of times a year and supporting Local buisness is good but I am feeling the pain as I just spent $28,000 on A Harley Davidson Fat Boy S 2016 model but that was an investment haha.
Rba rate rise next month for sure.
RBA – Flood the country with money and drop rates to next to zero for way too long.
Also RBA – Plebs getting a wage rise causes inflation.
Give us a break.
Higher interest rates will lower prices – Another lie from Philip Lowe!
The RBA's measly rate rises have done nothing to crush inflation. Everyone is still spending like crazy. They've already given up and pivoted. Plus the government is about to come in over the top with more inflation driving policies. We're going to be stuck with high inflation for a long time now.
The diagnosis is run away inflation….Housing prices is not in the RBAs mandate to control , that is why for the last umptity years, the RBA caused the biggest ratcheted private debt raucous in Aussie history . You haven’t seen nothing yet. You wait till after 7 years , the investment apartments begin showing ‘fast track project cracks’ and their investment properties literally begin to crumble
nothing to see here ! Bye!
Sadly, the RBA is lead by a weak vacillating incompetent.
Watch Lowe crap his pants once we hit a 9% CPI. And people were talking rate cuts in 2023 as a certainty. Yeah, right… wishful thinking to say the least. Time for the clowns to wake up.
0.5% this time.
This will identify where Philip Lowe sits. If rates DON"T rise by a 1/4 in February, we know his main focus is the housing market.