Since headline inflation peaked in December of last year, one of the driving forces behind inflationary pressures moderating has been the drop in fuel prices. After peaking in June last year, fuel prices have been placing varying degrees of downward pressure on this consumer price index (CPI/0 component ever since.Continue Reading
Treasurer Jim Chalmers has hit back at Peter Costello over his scepticism of the government’s RBA overhaul, claiming the former liberal treasurer was “factually wrong” in his take-down. Dr Chalmers spoke out after Mr Costello penned a scathing review of the government’s shake-up of the central bank in The AustralianContinue Reading
Households could be served with another rate hike before the end of the year after surging petrol prices pushed inflation higher, defying a broader easing of cost pressures since December last year. Annual inflation rose to 5.2 per cent in August, up from 4.9 per cent in July, as priceContinue Reading
There’s new hope for a resolution to the industrial dispute roiling Chevron’s LNG operations with union workers announcing they will consider recommendations from the Fair Work Commission to end the strike. FWC Commissioner Riordan proposed a set of recommendations to end the dispute on Thursday and Offshore Alliance, an amalgamContinue Reading
The Australian share market enjoyed a third day of gains after cooler than expected inflation eased pressure on the Reserve Bank to hike interest rates when it meets next Tuesday. Following a positive lead from Wall Street overnight, the S&P/ASX 200 index was up 87.2 points, or 1.2 per cent,Continue Reading
Households are almost certain to be spared from another rate rise when the Reserve Bank meets next week after inflation eased amid falling consumer demand. The latest Consumer Price Index figures, released by the Australian Bureau of Statistics, show annual inflation eased to 4.9 per cent in July, down fromContinue Reading
Renters could have saved billions over the past 12 months if a rent freeze was adopted a year ago, according to fresh new data. The research from the Parliamentary Library, commissioned by the Greens, was released on Wednesday as the minor party ups the pressure of the government ahead ofContinue Reading
Right now Australia’s central bank is deliberating on whether to hike interest rates yet again in a move that will determine the fate of millions of Australians. The Reserve Bank of Australia (RBA) is holding another interest rates meeting on Tuesday afternoon. And experts and financial markets are expecting anotherContinue Reading
Australians have turned off the tap on spending despite lowering inflation, with even mid-year sales not enough to boost retail turnover. Retail turnover fell 0.8 per cent in June 2023, according to figures released on Friday by the Australian Bureau of Statistics (ABS). The recent figures reversed a 0.8 perContinue Reading
The Australian share market has made the most of good news on inflation, with stocks surging higher on Wednesday. The S&P/ASX200 closed up on Wednesday, gaining 62.30 points or 0.85% to 7402.00 and setting a new 100-day high. The boost is thanks to the latest report on inflation from theContinue Reading