Fuel and house prices drive inflation
New consumer price data released by the Bureau of Stats yesterday revealed inflation exceeded expectations in the July to September quarter, jumping by 0.8%. That makes prices 3% higher than this time last year, driven by hikes at the bowser (7.1%) and the cost of new homes (3.3%). It’s the first time in 6 years that inflation has hit the Reserve Bank’s 2-3% target, but analysts say it’s unlikely the RBA will raise interest rates, not while pandemic woes continue to trouble the economy… Treasury Secretary Steven Kennedy yesterday said that the economy shrunk by “around 3%” in the September quarter thanks to lockdowns in NSW and Victoria. Boo…
Know someone who'd be interested in this story? Click to share...
The Squiz Today
Your shortcut to being informed, we've got your news needs covered.
Also Making News
Get the Squiz Today newsletter
Quick, agenda-free news that doesn't take itself too seriously. Get on it.