As per the post heading, inflation is alive and well, to the point it is getting out of hand.
Over the past few weeks a couple of examples are:
Coles/Woolworths home brand tissues have increased from $1.00 to $1.30
Heinz Bakes Beans 555gm cans have gone from $2.50 to $3.20
These are just a couple of examples I have noted, but to be sure there are a lot more.
With these sort of increases (a) the increases will feed into a higher inflation rate, in turn a higher CPI, in turn higher interest rates, in turn higher wages, etc etc
The end result is not going to be pretty!
Inflation Is Taking off
Ocker on 21/02/2022 - 19:31
Comments
Frozen 500g blueberries, price change in a year period.
$4 -> $5 -> $4.9 -> $5.8I purchase this often. Only 500g pack in Coles is from Canada, other packs are from Chile.
Any difference in quality?
Could this be why those yummy blueberry muffins are never in stock at Woolies and Coles anymore?
Yeah the price increases on the frozen foods have been nuts. I remember they used to be $4 a pack. Went up to $5.80 so quickly :(
The only way to combat this is rate hikes which means that house prices/stocks/crypto will all drop. However, with the war between Russia & Ukraine this looks like we have a bit more room before it happens (ie. things will only get worse in terms of inflation in the short term).
Inflation to the moon
Also Coke 2L $4.50 from $2.85 and thins $1.87 from $1.75
Bartering: What's inflation?
Shortage of C02 at the moment apparently which has impacted the production of soft drinks and beer etc.
This confuses me. Apparently, human activities are creating too much CO2 for the planet, but there is a shortage?
It is crazy, isn’t it. The oceans are full of water, yet apparently the Sahara is a desert! Surely having too much somewhere would cancel out not having enough elsewhere.
Lot of hot air in Canberra, should put them to work in the factories, blowing into Coke bottles.
Brown food colouring is in short supply.
Still $2.85 from my local Coles Local on the DoorDash app. Must have forgotten to raise the price
Kirks 10 can packs have been $5 for the longest time, now suddenly $9.50
to be fair, the $2.85 2l cokes were on those everyday low down prices offer.
so were the 10 can kirks
Shhh don't talk about the elephant in the room
everyone might realise that businessess are paying you less while the cost of living sky rockets.RBA and government have their heads in the sand if they think that the economy is happy.
Bloody ostriches
Impossible, we have Joshy at the helm!
Increasing wages ain’t gonna solve anything.
The businesses will just pass on the cost.
It’s happening already.And i think this is the breakdown in governement wage increases, businesses striving to eek every last dollar out of their profit and de-unionisation.
before many unions actually had power, since then the current government has disbanded then and with that eroded any worker's rights to wage increases. One person pushing for a pay rise has next to no power, 100 of them however, and you've got a case.
As much as i hate unionism they have a place in society in that they're there to ensure wage growth continues. Otherwise you just end up with a whole lot of dissatisfied, burnt out employees.
Depends on the Union as well, some are more ruthless and militant than others.
Started a new job mid-June 2021. 6 weeks later got a 3% pay rise. This year they’re revisiting the 2019 EBA to make it a 4% p.a increase, and a 20% retrospective wage increase as well (EBA kicks in July 1st, negotiations should complete before Xmas).
LNP: Superior economic managers
Perfect timing for them to lose an election and then claim lABoR ArE bAD EcoNOmIc mAnAgERS!111!!!1!! while Labor yet again cleans up their mess.
What does labor do that cleans up the mess?
@StalkingIbis: Probably do what they did during the GFC and use actual economic management to rectify the issue. I don't know the wizardry but I know that in terms of global economic capability the Australian Labor Party's ability to succeed where many others fail is historically a thing.
@StalkingIbis: When the GFC hit, Labor spent 40 billion dollars putting money in the hands of the people which they then spent (for the most part) on things they wanted, which fed money through businesses, who paid their staff, and their executives, and paid tax, and those staff and executives paid their income tax on it, and so on and so on. It's like feeding blood through a circulatory system. If you pay it out to PEOPLE instead of CORPORATIONS (cough JobKeeper) they spend it and it comes back after stimulating a lot of economic sustain and growth in the meantime.
@sir-screwball: Sounds like a recipe for inflation, lets not forget pink bats, building the education revolution and the fact we still haven't paid for it.
@StalkingIbis: More like the stuff conservatives don’t give a stuff about but middle Australia would. Last go it was apology to indigenous Australians, sign Kyoto, neutralised work choices, 2020 ideas summit. You can have either party in for too long and it’s no good for the country. If you are confident Coalition will win then go punt on it. Should be listed as a deal paying out $3.
@gromit: Yet the debt just keeps increasing under the LNP… How long do they have to be in office before they stop blaming Labor?
https://independentaustralia.net/politics/politics-display/c…
@gromit: Drink the kool-aid harder there mate.
Government spending and operating debt is part of a good economy. When they spend money on the people, the people prosper and return that money back in the form of taxes.
If you haven't noticed, inflation is increasing and wage growth is at a stand still which means tax income is shrinking but things are getting more expensive for the government as well as the people. Government debt grows without spending any money on infrastructure or services, consumer confidence drops into the floor and takes consumer spending with it, which means companies are taking in less, paying less tax.
I'm no economics expert but this is the basic gist and if anyone who is an expert in economics can come in and refine the message I'm happy to take the feedback.
@sir-screwball: LOL you certainly have drank the coolaid. of course I have noticed inflation increasing. Government spending and debt is NOT part of a good economy at all, it is a necessary evil that is a set of brakes to a good economy that can occasionally be used to accelerate a economy at a cost. I certainly don't think the LNP have done a good job, but compared to Labor they are genius's, during the GFC labor did the equivalent of burning stacks of $100 bills to keep a homeless man warm, sure it works, but is it money well spent? If you think current government is bad just wait to see what Labor do when they are almost certainly elected this year as they don't have the boat anchor that was shorten dragging them down.
@sir-screwball: The government doesn't have access to any money but the peoples it's just a question of when/how they take it, either tax borrow or inflate it. Debt can be part of a good economy if it is used to build productive infrastructure but if it just for a sugar hit stimulus (direct payments to individuals0 then it is usually a net negative impact on the economy.
@gromit: If the government spending produces a return on it's investment, it will increase wealth in the long term.
Arbitrarily drawing a line in the sand so that the country is not in debt, and balancing the books by limiting public spending on roads, schools, and healthcare (for the poor) is not an economically sound policy, it's merely a political mandate.
Notice the wealthy and the corporates never have to help balance the national budget, they always get their tax cuts.
Look at the bigger picture and notice what is happening - wealth redistribution@greatlamp: The wealthy and corporates are those paying tax, so yeah they get the tax cuts, Under labor those not paying any net tax get more tax cuts. The reality is what is needed is something in between Labor and liberal, sadly such an alternative doesn't exist in Australia. You have the largess, waste and excess of labor with no concern for the future or the cronyism of liberal. Wealth redistribution is just another name for communism, no thanks.
@gromit: I don't disagree with you, we need more that 2 viable political parties.
But you should judge parties by what they actually do, not the stereotype of what they do.
Wealth redistribution towards the rich is what we have now, only wealth redistribution to benefit the poor gets the dirty label. That label has been created and fed to all of us. I only ask that people think about who that benefits.
If your net worth is less than $1 million, you aren't rich, and a policy that benefits the 'poor' benefits you. The poor aren't only the handful of people on centerlink, the poor are most of us.
@greatlamp: well I would be labelled as relatively rich, I don't see any wealth redistribution going to me, rather the exact opposite, I get less government benefits than 90% of society. I get to pay higher tax on my super, medicare, I pay over 33% of total income in tax and labor will almost certainly make that even higher. The reality is the top tax brackets in this country actually support the rest of the country paying the vast majority of the tax the government receives. (note I am note against us paying the majority of tax, just wish people would actually educate themselves on who really is paying the tax in Australia)
@gromit: I work in the taxation industry and I can tell you for free that under the LNP it is literally those earning between 60k and 180k+ that do the heavy lifting with income tax. Small to medium businesses get flogged for it too, the only people that get a break are the people who measure their income by profit margins, and huge corporations who pay literally zero tax.
I've worked on projects where I had to gather data on companies earning over 1 million whilst paying literally no tax, and companies earning over a billion whilst paying no tax. The number was pretty depressing.
The government rhetoric wants you to turn on those who earn less than you because if people realise who the real enemy is then all of a sudden it would become a lot harder for them to just rort the living sht out of the lower classes.
@sir-screwball: then I would suggest you check your numbers. the top 10% of tax payers pay over 50% of the personal tax revenue.The top 1% pay around 17% of personal tax revenue, those over the 180k+ mark pay approximately a 3rd of the total personal tax revenue collected. The bulk of the heavy lifting is done from incomes above 100k.
https://www.smh.com.au/politics/federal/australia-s-one-per-…@gromit: I honestly don't think you understand the conversation.
My understanding is that we were discussing the fact that the top 1% are very busy convincing the middle to high earners that the low income earners are stealing all their money via welfare.
You appear to be… uh, agreeing with me? I said that 60k+ through to 180k+ pay the bulk of the tax… Which you then linked me an "article" (can't legitimately call any Murdoch or 9FF piece an article) that supports what I said?
By literally every single metric that is not generated by Murdoch or Costello, Labor have always historically been better at economic management. Don't look at locally generated fluff pieces that are essentially wanking off the LNP, look at actual neutral external-to-Australia sources like the OECD.
Incidentally the OECD was very recently infiltrated by none other than previous LNP hack Matthais Cormann so I imagine very soon even that data won't be reliable.
@sir-screwball: no that is simply the argument you introduced. I have no beef with the top 1%, they pay a fair share for the most part (some obvious exceptions), you seem to be arguing that the top earners don't contribute fairly (which outside a few exceptions) is completely untrue as can be seen by the breakdown of who pays tax. The only people that show labor as being better are labor supporters, they have historically been abysmal, especially in the last 2 decades.
@gromit: Ok so I have huge beef with the top 1%. They are moochers. They earn absolute boatloads of money and their effective tax rate through all sorts of nifty loopholes configured by the LNP is far lower than the 50% it should be at (give or take).
Then take into consideration the effective tax rates of the companies these people operate. Billions in revenue, hundreds of millions paid out to executives in bonuses and salaries, and an effective tax rate of 0%. Massive beef.
I'll take partisanship out of the equation. Look at this link: https://countryeconomy.com/national-debt/australia
Explain to me this: The GFC happened circa 2008-2010 give or take. Understandably with the economic measures taken by the Labor party (namely the 40bn stimulus $900 payment that everyone spent on big screen TV's etc) the debt rose in that period.
So please, explain to me how, from when the LNP took power until the start of COVID, without their spending much money if any on public spending, the debt rose from ~11.5% of GDP to ~46% of GDP. Tell me how that happens if the government are so solid at economic management.
This is what I'm saying to you. The only people who DON'T think that Labor are better than LNP at economic management ARE THE LIB VOTERS. Get out of your little SMH.com.au Murdoch circlejerk bubble and go read some INDEPENDENT sources and learn the information for yourself. Take the political spin off it, take the partisanship out of it and just read the numbers for yourself. BEFORE COVID19 hit, the debt was out of control and since it's hit, it's gone even worse and the stimulus the government paid out went to fkn Gerry Harvey and his mates for the most part.
You're living in a bubble my man. I'm no Labor fanboy I just detest the LNP and the things they get away with.
@sir-screwball: gross generalisation that simply isn't backed up by facts. most of the top 1% are just like me, they pay their share and we get less benefits than everyone else from those tax dollars.
Most of the first years of liberal spending were paying for Labor commitments, e.g. the NDIS where labor had created but not paid for it, hence the massive increase which was on the way down by the time Covid hit. regardless you are looking at the chart for Australian spending not government spending/deficit. https://countryeconomy.com/deficit/australia
FYI, I am by no means suggesting liberals are good, in fact I think the last 2 liberal governments have been appalling, the only thing that could have been worse is a shorten labor one.
@gromit: I imagine the only reason you're suggesting that a Shorten Labor government would have been worse is that he would have been cutting off what I am guessing is a few of your state sponsored pseudo-welfare income streams like negative gearing and franking credits. The only person I personally knew was complaining about that was a retiree with a Lamborghini so it really didn't do much to garner my sympathy.
Franking credits are a state sponsored welfare for the rich.
Negative gearing and the ability for rental income to reduce taxable income from other earnings is a state sponsored welfare for the rich.
The capital gains tax discount is a state sponsored welfare for the rich.
If you are taking advantage of these mechanisms you are on welfare, just the richy rich welfare that isn't demonised in the media.
As for the rest of your argument, you are going to sit there and tell me that NDIS was the reason for a 70% increase in debt? NDIS costs 25bn a year.. What about the 80bn in defense spending the LNP committed to right before the last federal election?
Also don't even start with this deficit defense because no one other than the usual LNP mob actually measures deficit as a metric of a good economy. It's literally a straw man the LNP trots out to defend their horrible spending and debt habits.
Look mate I wish you the best, but I have other things I gotta be doing with my time. If you really think that the LNP are going to curb inflation in any way, and not make it categorically worse by basically doing what they've always done, I don't know if there's much that can be done to change your mind so all the best and please try and vote for an independent or minor party in 2022 that stands for your interests. A hung parliament that relies on the wants and needs of small parties is the best outcome for every day Australians.
@sir-screwball: That's nice but from the circles I've heard complaints about the franking credits issue are from retirees who solely rely on their shares to fund their retirement.
I don't benefit from franking credits, am not retired, but from what I understand, tax has been paid twice, which is not fair, and which is why a credit is put in place.
Negative gearing - the majority of investors who negatively geared have a taxable income of $80k. The majority of investors have one investment property. They're not exactly rich.
From the above, I'm not sure if you truly understand how things work.
Everyone is on welfare one way or another. If you get family tax A or B, you're on welfare. If you receive subsidised medication, you're on welfare. etc etc etc
@pogichinoy: The franking credits thing was introduced by Labor. It's a Labor mechanism and it was designed to stop the government from taking tax twice. That part is true. When it was originally introduced the franking credits were not refundable. You couldn't use them as a vehicle for generating income in and of itself. Once your credits reduced your tax bill to $0, that was that.
Then along came the LNP to retool the mechanism to allow for the franking credit tax offset to become refundable, queue retirees with a lot of shares getting huge refunds and "funding their retirement" using this tool.
Here's the thing: The scheme was never meant to allow for a person to receive cash refunds on tax they didn't pay themselves. The LNP managed to take a system that was designed to avoid double taxation and they changed it to a system that allowed a massive taxpayer funded cash refunds. Hence, state sponsored welfare.
If a retiree 'relies solely on their shares to fund their retirement' they still have hundreds of thousands of dollars buried in shares. They're getting a nifty taxpayer handout whilst their massive share portfolio grows in size. Why is it fair that taxpayers fund their retirement? Why can't they just sell their shares and live off the ginormous cash payout they'll get. Considering the 50% capital gains tax discount exists (another LNP measure) they won't even pay their fare share on the sale either so the yield will be huge.
They get no sympathy from me. I don't care if they use it to fund their retirement. Between the absolutely plush superannuation plans they had access to, the cheap housing they exploited, the fact they were able to raise a family on one average income, and all the other boomer benefits they got, they don't deserve, nor have they earned the right to get welfare, call it earnings and not even have it eat into their huge net wealth.
Regarding housing: Taxable income is the result of your overall income minus your deductions. Negative gearing is the result of your deductions overwhelming your rental income. Taxable income is not a valid component of the topic because that's the AFTER state. A person can earn $200,000 or more a year and have a taxable income of $80k and one of the vehicles they can use to achieve this is negative gearing.
If you take a loss on the sale of a rental property, that loss is capital in nature and cannot be used to offset your regular income. You need to make a capital gain to offset that loss down the road. For some reason rental income from that rental property is not quarantined in the same way therefore it can be used to reduce your regular income for tax purposes.
Negative gearing is fine in and of itself, but the income from the rental property should be quarantined from regular income. That fixes the negative gearing portion of the property market. There's a lot more wrong with it but that would be a step in the right direction.
I actually have no problem with welfare at all. I'm a huge advocate for it. I don't get any myself, but I think our welfare system should be expanded and I think the LNP need to stop convincing rich people that people on welfare are moochers and leaners, meanwhile the top end of town that are on what is tantamount to welfare are somehow not the same thing?
@sir-screwball: small businesses got a lower corporate tax rate and the instant asset write off but the LNP are flogging small to medium business?
@jerrus: There's a lot of huge corporations that pay less tax than my brother in law's 1 man plumbing business. If corporate Australia paid their fair share of tax and stopped getting handouts there would be a pretty nifty boost to the bottom line in the budget.
@sir-screwball: The point is that the changes the LNP made reduced your brothers tax rate (if he has a company) and allowed him to reduce his tax when buying plant etc by instantly writing it off.
@jerrus: Oh please let me lick the boots of the LNP because they allowed tradies the right to write off assets instantly instead of over time.
@sir-screwball: No need to lick their boots or support them, just be honest and admit the changes they made to what you consider an unfair tax system helped small to medium businesses
@jerrus: No. I think the assistance of anyone was a biproduct of the true intention which was to help their property developer mates by giving the primary focus of the change, the building industry, a bit of a temporary cashflow boost to further propagate the boost of the property developers and in turn, the LNP by way of donations. Per usual, it's the LNP finding fun ways to convert public money into party donations.
@sir-screwball: if you put a cynical spin on every government action then nothing will ever get done. Lab gives out money to buy votes etc (I don't think this is the motivation of most labor party members but if you see everything with cynical eyes it all looks bad)
@jerrus: The thing is that I don't see it as cynical spin. Every measure the LNP comes out with always has the marketing approach of who they say it's going to help, then it has the true target buried beneath the surface. I know tax, I know superannuation and I know that a lot of what the LNP does to uplift their own interests is through those vehicles.
My favourite one from the most recent spate of corruption is how they allowed people the right to take 20k out of their superannuation to help them through the pandemic, gave the ATO very little time to put together a proper vetting process and so they had to end up leaving it to an honor system and now, they've passed legislation that allows everyone the opportunity to recontribute that 20,000 over the course of the next few years with no penalty.
Sounds super reasonable and fair right? No. It's not at all. In order to take advantage of this measure you would need to already be maxing out your concessional contributions every year which doesn't even result in extra tax. It triggers the ability to utilise unused caps in previous financial years for a total of a single year concessional contribution of $82,500 before you start to look at paying any additional tax or moving it to non concessional. So for anyone to benefit from this change they have to be contributing a minimum of somewhere near like 50k or more toward their concessional contributions cap, every single year to exhaust not just the single year cap but the 3 year carry forward cap on a rolling basis. Only then does the recontribution legislation come into play and at that point, who the hell is contributing that much? The low income earners who just rorted themselves out of like 100,000 or more?
No, per usual it's the high income earners and the mortal enemies of working class people, the LNP and their top end of town mates.
Honestly sit there and type out any measures the LNP have introduced throughout their existence and I'll find where it's self-serving and demonstrate where any help they offer anyone is a biproduct at best.
@sir-screwball: Any tax reduction measure is going to help the rich more than the poor, you can't really take advantage of these if you don't pay tax. I'm not saying that people don't steer changes to favour one group or another (on both sides, Dan A gave the security contract for the quarantine to his mates outfit.) but I think your attributing cunning where there is stupidity in this case. A better example is the return and earn bs that they brought in in NSW and they admited it might increase the recycling by 5-10% but it costs the beverage makers 20c a bottle to facilitate a 10c refund and all the people waste so much time depositing their own or going through the recycling bins every week. Also their is so much extra CO2 in driving around to collect and deposit the containers.
@jerrus: Daniel Andrews gave a security contract for quarantine to his mates? I've just googled for a few minutes and all I can see is that there was an inquiry into the contracts situation and as yet I can't see anything about any findings, though if you can point me in the direction of anything substantive I am happy to have a look.
In the meantime, why don't I offer you some examples for you to have a look at?
Sonic Healthcare has received approximately 330 million dollars worth of contracts since the coalition came to power in 2013. They've donated over 500k to the Liberal Party in that same period.
In 2017 the Libs spent 80 million dollars buying water licenses from a company that is registered in the Cayman Islands. The company (Eastern Australia Agriculture) had Angus Taylor as a director immediately prior to his election into parliament.
A small security contracting company called Paladin was awarded nearly 500 million dollars in security contracts to guard refugees on Manus Island. The company was run out of a little shack in the middle of nowhere and it is rightfully speculated that Karen Dutton, Peter Dutton's sister, worked at the firm during this period.
I mean this is just contracts being handed out to companies, I can talk about pork barelling, branch stacking, all sorts of topics come to mind.
I mean the truth of the matter is that the Labor party does dodgy stuff too but compared to the LNP it's like not even the same sport. If rorting taxpayer dollars was a sport, the Labor party are a rag tag team of dads and the LNP are on the world stage.
@sir-screwball: You ever heard of div 293?
No 'high income earner' in their right mind would divert more to super … just to pay more tax on money they can't controlso sick of these ignorant blanket statements.. there's a few asset rich inter generational wealthy people who use every loophole in the book and then there's hard workers get royally f**ked
@Blackadda: LOL are you high? You're going to use Division 293 as some type of defense against the current COVID19 legislation allowing an additional 20k tax free to be put toward concessional contributions?
You are talking about income tests up to $250,000. Something tells me you're well and truly beyond a low income earner and therefore everything I wrote applies to you and yours. The LNP duped thousands of low income earners out of 20k super and then passed legislation allowing anyone the chance to put it back.. though the only people who could even come close to affording it is people who need to be concerned with Division 293 so cry me a f**king river.
I've worked on projects where I had to gather data on companies earning over 1 million whilst paying literally no tax, and companies earning over a billion whilst paying no tax. The number was pretty depressing.
What was the result of the project and is it publically available?
You've got to take your hat off to their marketing team in creating a brand that is the opposite of what they are.
And by "their marketing team" you mean basically 95% of the print, television and radio media in the whole of the country?
@sir-screwball: 95% of the private media @ best I'd dispute this sky is LNP but fairfax papers lean left and free to air chanels are at best slightly tilted to the LNP, 100% of the ABC & SBS are marketing for the other side and we are all paying for it
@jerrus: Tell me you're a LNP shill without telling me you're a LNP shill. 9 Fairfax leans left LMAO
@sir-screwball: I'm a member of the LNP. At the end of the day the only press that should be evenhanded is the most bias, remeber Murdoch papers supported kevin07.
@jerrus: Yeah you didn't have to tell me that. The only thing you have done differently to anyone else is actually admitted you're a member. Your party is a cancer on this country and without the national coalition the party would never hold office in this country again. I'm no Labor lover, I think the political landscape in this country is fundamentally flawed and my one true hope is a hung parliament with Labor in power and a bunch of small parties holding them to ransom to effect some actual change. But even on their worst days they've done more for this country than the LNP ever have.
@sir-screwball: I try not to be a liar as best I can. The politics of any country is a reflection of the membership and the public at large, probably a good reason for you to pick one of the party's and do the best you can to try and make it better, if only (profanity) join the party's this won't get better.
@jerrus: I want to make it clear that I detest literally everything about your chosen side but I respect your candor. I don't expect we're going to agree on much but I can admit as much as that.
@sir-screwball: Thats cool honest discussion and trying to understand the othersides motivations can lead to good outcomes and at least prevent our politics degrading further.
Personally, I'm quite shocked at how they smear Labor while doing the same thing they accuse them of. It's shameful.
The situation with China is a prime example. It wouldn't surprise me if they had an agreement with China regarding what they say about China. They seem to be happy to sell us out.
The party of "free speech" has made it more difficult for commentary on the government and wants to further luck down free speech.
@ihfree: The China story leaked through one of the CCP propaganda rags and the story itself within that rag was written by a former Australian political commentator and diplomat, who shat on Albo and the Labor party, then the Murdoch/Nine Fairfax networks grabbed it and away we went.
RBA and government
Are they really looks after the public or their wallet ?
So what is the % inflation per quarter for OZ and the capitols for each state for the last say 2 years? With this info you can say that inflation is "taking off" as otherwise you are just indicating what you think in your situation, which may be correct.
The official inflation figures from the RBA/ABS are meaningless.
They massage the numbers to ignore "transient inflation" or ignore things like fuel, food and housing.
Good 1 OP you have a Statistical Significant Sample hehe :)
I need some of those baked beans to brew something more constructive.
1% correct ^ 3
The only significant statistical sample is the ones that are significant for each of us.
What about the confidence level?
you don't think it exists? you must work for the rba
I'm sure profits of Colesworth haven't been helped by the SA floods impacting goods coming into WA. Empty shelves etc and everyone going to their local stores instead
Yeah we don’t even have baked beans in WA
Coles/Woolworths home brand tissues have increased from $1.00 to $1.30
Not unusually when paper takes up a lot of space but low value. If you think about how many you can fit into a 20ft container and moving containers have gone up 4x. Most of the cheap paper is from China.
Australian agricultural products have gone up because the lack of back packers or immigrants who don't know their rights to exploit!
my 1 cent choc buds at the school canteen is 1.1
craxy
inflation is alive and well
Been saying this for a while now.
The end result is not going to be pretty!
Certainly is when the 'wage' rises don't magically appear like everyone thinks they will, but cost of goods go up as well as interest rates!
Inflation Is Taking off
You might say it is… ballooning
Dw about daily needs just have a look at land prices. Ridiculous! Not sure why people don’t care about this at all.
The RBA isn’t denying inflation is occurring, but it is saying it is a factor of COVID disruption, and that competition will mean prices will stabilize or fall back as that disruption eases.
It doesn’t see any reason prices will go up again, and again and again, which is what happens if inflation is truly increasing, not just for a short term.I think they hope you will get some wage rises, that will stick around after prices comparatively fall again.
Frozen blueberries, from $4 a bag to $5.80 in the last few weeks. Dairy farmers yogurt $5.50 now $6
Glad it’s not just me thinking this is not a good sign