Today’s CPI update is out –
“Inflation rose 7.8 per cent over the last year, the highest peak since 1990, driven by pricier domestic holidays, international travel and higher electricity prices. Inflation in the December quarter rose by 1.9 per cent taking annual growth to 7.8 per cent according to the Australian Bureau of Statistics.”
Rate rises in Feb and probably March pretty much a certainty now. What will our economic captain Phil Lowe do next? I can already hear him on today’s speech “7.8% rise in CPI is still lower than the bank’s 8% forecast.” along with telling people not to ask for a payrise because it will drive up inflation and we must protect property prices at all costs!
People love spending money in EZFKA because we are different here and there’s no possibility of ever having hard times!