Today news
About the same in other media
Less cash to splash: despite the spin, there’s nothing transient about inflation
Reading now: 587
Households now face a reduction in spending power, unless after-tax wage increases match accelerating price rises.
In Australia, the September 2021 quarter consumer price index rose 0.8%, or 3% over the year. In the US, the corresponding measure has reached 6.2%, the highest in nearly 30 years. Official figures probably understate the true extent of cost-of-living increases.
Having underestimated inflationary pressures, central banking “soul searching’’ has yielded an emollient oxymoron: “longer-lasting transitory factors’’. Errant hobgoblins within nebulous supply chains are to blame. But there are three factors, two of which pre-date the pandemic, whose effects are overlooked.
First, higher prices reflect Covid’s long economic shadow,
Read more on theguardian.comAbout this in other media
Australia’s GDP falls by 1.9% as Covid contraction less severe than feared theguardian.com /3 years ago
Pulling the switch: how to find a new clean energy provider in Australia theguardian.com /3 years ago
What the Omicron Variant Means for Travel Restrictions and Bans wsj.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
