Inflation Has Ticked up in The Last Couple of Months

• 

  CyberMurning on 24/11/2024 - 18:13

  +1

  No wonder train drivers are asking 32 per cent pay rise over four years and an additional 1 per cent employer super….
  Make sense!

  /s

  • 

    randomusername2017 on 24/11/2024 - 22:45

    +1

    Bot disappointed all the comments aren't all stacked under the first reply…🤔

    • 

      JIMB0 on 24/11/2024 - 22:54

      I'm not actually replying to you. I was late to the party and missed the top spot in the thread that I am worthy of. Replying to you was the only way to get my useless comment as high up the page as possible.

• 

  Gervais fanboy on 24/11/2024 - 18:15

  +3

  I am sure the upcoming hecs relief programme will fix everything.
  Nothing says tackling inflation like printing more free money that you don’t have.

  • 

    AdosHouse on 24/11/2024 - 18:47

    +3

    Weird take. The government won't print money to give itself. So they are writing debt off, not printing money and getting someone from treasury to haul a big shipping container of money to the ATO.

    • 

      Gervais fanboy on 24/11/2024 - 18:54

      +1

      It depends on whether the debt is denominated in the country’s own currency. Printing more money would weaken the currency relative to others, but the debt itself would remain unchanged.

    • 

      greatlamp on 24/11/2024 - 23:44

      The explanation is wrong but it's the correct take.

      Wiping the debt means people have more take home pay. That's inflationary.

      Is it significant? We can only wait and see.

• 

  justworld on 24/11/2024 - 18:18

  +5

  Victorian land tax went up well over 50% in the last 2 years.

  My office rent went up 8% in a year.

  Those things are more impactful to me than a few dollars on groceries here and there.

  My solution is - when others hike prices, I hike my fees and blame inflation.

  • 

    Gervais fanboy on 24/11/2024 - 18:20

    +4

    This is a vicious loop though, the middle class will keep shrinking.

    • 

      Danstar on 24/11/2024 - 18:40

      -4

      The socialist way! Make everyone equally poor so we all have to rely on the Govt. to get by

      • 

        OZKap on 24/11/2024 - 23:39

        +1

        "anything I dislike is socialism"

  • 

    CalmLemons on 25/11/2024 - 01:24

    +2

    Yes, and people complain about why rents keep going up.

    People further complain why all these new high density builds are such low quality.

    Here is your answer:

    Governments solution is to push to build more housing to provide more rentals properties WHILST continuing to build massive infrastructure projects.
    This causes what little skilled trades we have 'revolve' around government projects instead of private developments.
    Those who do private ones, now increase the price due to increased demand for their services PLUS increased cost of materials and in parallel increased wages.
    When you build a building, to keep margins in order to stay liquid and in business, you can either decrease the material cost or decrease the wages cost. Decreasing wages is hard so you start designing/building buildings with lower cost materials.
    You also end up with the bottom of the barrel trades more often than not to either save money or sheerly by little choice as to who is available at the time and the trades that more often aren't too good are MORE available to an extent.
    So you have shit buildings, at a high price, and also few developments in the pipeline because of the rise in costs/materials/labour/land taxes/other costs to developers. OH AND DON'T FORGET INSURANCE. Building insurance now up 400%, all other insurance up 25-40%.

    When the government builds something, it is literally 30-40% at least more expensive due to government inefficiences and zero competition/free market.
    Government pays for this by taxing the private land owners/builders more so essentialy you have this death loop whereby you are constantly reducing the housing supply by trying to build more buildings because you're making things more expensive as the way you are doing it is inefficient and pushing private developers out with higher costs caused by the government. This is why communism never works.

    They should just increase taxes at the end of the developments rather than burden developers/businesses with immediate costs.

• 

  kiitos on 24/11/2024 - 18:32

  +5

  I noticed the house insurance jump too - 22% in our case. I was thinking as this is something that I'd have to fund even in my future retirement it's a worrying trend.

• 

  Malik Nasser on 24/11/2024 - 18:45

  -4

  Your anecdotal observations do not match the latest RBA CPI data.

  Inflation Has Ticked up in The Last Couple of Months

  And yet a number of your comparison are for 2023 v 2024. Seems a bit more than a couple of months to me.

  • 

    HeWhoKnows on 24/11/2024 - 19:36

    -1

    Pls read the examples again.
    The focus is on the last couple of months.
    Yes some comparison was made to 2023 prices as an additional reference point.
    But in every example, price increases which occurred during November 2024 have been compared against October 2024 prices and if not, then early 2024.
    The recent jump in prices is the whole point of this post. Not what has happened over the last 12 months.
    You should be aware that November 2024 figures wont be reflected in CPI data for another couple of months.
    So obviously my observations wont be reflected in your quoted September 2024 data.
    I suggest you check back again at the end of January 2025.
    In any case CPI data is on a rolling 12 month basis, even though they now quote monthly changes.

    • 

      Malik Nasser on 24/11/2024 - 20:47

      +4

      Confirmation bias.
      You have cherry picked data points that match your narrative. Your examples represent less than 0.1% of all items sold by all retailers. Does the dataset also have examples of the opposite (where some items are now cheaper than they were in earlier months)?
      Unless you analyse the full dataset making claims based on a small subset of items is rather meaningless. Anyone can cherry pick parts out of a dataset and tell whatever story they want to match their narrative.
      Regarding the RBA monthly CPI indicator data, you can extract month on month data and not just look at rolling 12 month periods. As such September month on month CPI was only 0.08%, August was -0.24%, and July was 0.0%, so clearly CPI has not been doing much over these months. The next data point is due out on Wednesday which will give the October reading.
      I would not expect CPI to be doing much over the next few month either, but then again anything can happen.

      • 

        TEER3X on 24/11/2024 - 21:07

        +2

        Isn't inflation measuring the price changes of a basket of goods over a defined time period?

        That's exactly what the op is doing

        • 

          cloudy on 24/11/2024 - 22:57

          @TEER3X: But surely hasn't included other things in his basket, say electricity. Which is in deflation thanks to the $300 albo grant. If Op buys any China made good, it's probably deflated in price recently, the list goes on, hence why the ABS is more comprehensive list.

          Ofcourse the ABS figure does not eqaute to OPs experience. Everyone is different from average in their own way.

  • 

    RedHab on 24/11/2024 - 19:44

    +3

    The ABS/RBA inflation data is under-stated. They manipulate the data to please their political masters.

    There are many reasons for this, but the main one is that government benefits like pensions are indexed to inflation.

    You can find much more information on the topic here:
    https://www.shadowstats.com/alternate_data/inflation-charts

    • 

      dtc on 24/11/2024 - 19:57

      -1

      And how is linking a conspiracy website that talks solely about US data relevant?

      • 

        HeWhoKnows on 24/11/2024 - 19:58

        +3

        Firstly
        This is not a conspiracy site
        IT IS REAL FACTUAL DATA!

        Secondly
        Because Western governments play the same games everywhere

    • 

      HeWhoKnows on 24/11/2024 - 19:57

      +3

      100% correct!

• 

  AustriaBargain on 24/11/2024 - 18:53

  Lot of the products you mentioned rely on animals and farms, how do you know that the fluctuation is due to inflation and not McDonald's bringing back the McRib?

  • 

    HeWhoKnows on 24/11/2024 - 19:39

    Good point.
    maybe we blame McDonalds

• 

  7ekn00 on 24/11/2024 - 18:56

  +3

  Australia voted for it:
  https://www.linkedin.com/pulse/what-impact-australias-high-p…

  • 

    LVlahov on 24/11/2024 - 19:31

    Although Labor had promised to reduce migration relative to the Liberals not massively increase it so I don't think it is fair to say the public voted for it. If they voted with the knowledge they should have regarding Labor's ideology and intentions they did, but if they took Labor at their word they were voting for the opposite.

    • 

      7ekn00 on 24/11/2024 - 19:32

      +3

      You mean each way Albo went each way to win a public vote?!? Say it aint so, politicians never lie !!!

      PS. both sides are lieing PoSes that are just globalist puppets :/

    • 

      HeWhoKnows on 24/11/2024 - 19:46

      +1

      Im not aware of a single promise from the many which Albanese made, for which the public presumably voted, that has been delivered by Labor.
      Besides Labor's primary vote (32.5%) which actually went down, was actually (3.2%) below the Liberal/Nationals Coalition primary vote.(35.7%)
      See here: https://en.wikipedia.org/wiki/2022_Australian_federal_electi…

      So no, the majority of Australians did NOT vote for any of Labor's ideology.
      Labor formed a functional government by benefiting from Greens preferences and then forming a coalition with The Greens to pass legislation through the Senate.

      • 

        LVlahov on 24/11/2024 - 20:42

        They are truly one of the worst governments the nation has ever had.

        • 

          coray8 on 24/11/2024 - 20:56

          +2

          @LVlahov: Maybe if you slept through the past decade

          • 

            LVlahov on 24/11/2024 - 21:06

            @coray8: Who are we comparing to: Abbott/Turnbull/Morrison, or Gillard/Rudd?

            Morrison I think is the most interesting case, a person that perhaps governed more reasonably and less ideologically than any Prime Minister we've had for many decades (before my time) if not forever. [and it is not a Liberal voter talking here, I am more of an issue voter than party committed]

            Liberal voters tend to not be that negative about him but Labor voters much more so, even though he generally spread around Labor style largess to save the economy and was very inclusive of the needs of those with little. And for those negative about him regarding covid he stayed within firm legal and constitutional bounds and wasn't anywhere near as harsh, prescriptive or destructive as just about any other politician on the mainstream right or left would have been, or the extreme left.

            Thus he tended to govern in a way more sensible than we could possibly expect others would have been with their ideological bent, and that of their parties. He was kinder to the bottom end more than any liberal leader would be expected to be, and more moderate on social prescription similarly.

            Good sense is just the thing to be criticised in a country ruled by deficient media and academic reality though, with an activist population brainwashed to be against good sense and their own interests.

            Abbot I would say was not bad, just out of touch with modern Australia (in the pejorative sense of that word) to some extent and easy to ridicule (despite I would fully believe being a decent human being), and Turnbull was really just a normal politician to me, so terrible, but not outstandingly so in any direction. He sold out Australian interests but no more than Labor leaders do, or other Liberal leaders (excepting Morrison and potentially Dutton who I think are less motivated to do so), or Green leaders would do if given the chance.

            Rudd had some promise but was killed by his own party and oligopolies arranged against him, and Gillard's record is that of utter incompetence far in excess of the others. Pink Batts, blowing up of our university sector (overrunning it with students to the absolute devaluing of its quality), mismanaging the renewable energy sector and so on. Something you would never know the full extent of unless you were within the industry at the time.

            I'd take any of the above though over the current government. I have never seen such cynical lying to and gaslighting of the public as under the current term.

      • 

        Baysew on 24/11/2024 - 21:03

        +4

        Promises made and delivered:

        Legislate 10 days of paid family and domestic violence leave
        Hold a referendum to constitutionally enshrine a Voice to Parliament in the first term
        Reduce the maximum charge for PBS scripts by $12.50 from January 2023
        Establish a royal commission into 'Robodebt' by the end of 2022
        Gradually and predictably reduce emissions baselines for non-electricity sector facilities covered by the safeguard mechanism
        Provide $200 million to schools for mental health support
        Require 24/7 registered nurse presence in aged care facilities by mid-2023
        Boost the TPI payment for disabled veterans by $1,000 per year, starting January 2023
        Provide $240 million to schools for building upgrades
        Hire an extra 500 staff to process veterans’ claims
        Establish a new Australia-Pacific Defence School
        Require residential aged care operators to publicly report their spending in detail
        Provide the ABC and SBS with five-year funding periods
        Make the cashless debit card voluntary
        Change Australia’s Nationally Determined Contribution to reducing emissions to 43 per cent off 2005 levels and legislate the target
        Extend the powers of the Fair Work Commission to make orders for minimum standards for new forms of work, such as gig work
        Remove import and fringe benefits tax on non-luxury low-emissions vehicles beginning July 1, 2022
        Make gender pay equity an objective of the Fair Work Act
        Abolish the average staffing level cap in the Australian Public Service and increase the number of permanent employees
        Make unfair contract terms illegal so small businesses can negotiate fairer agreements with large partners
        Deliver a one-off $420 increase in the low-and-middle income tax offset in 2022
        Establish a Family, Domestic and Sexual Violence Commissioner
        Establish a $10 billion Housing Australia Future Fund
        Replace the Temporary Protection and Safe Haven Enterprise Visas with a new permanent protection visa
        Legislate a federal anti-corruption commission ‘with teeth’ by the end of 2022
        Legislate so large companies will have to report their gender pay gap publicly

        • 

          LVlahov on 25/11/2024 - 00:21

          +1

          @Baysew: ALL of that stuff is at the margins/barely relevant or things they stuffed up.. e.g. the Voice referendum. Stuff to be visible but that make essentially no difference whatsoever, while the things they didn't do smash everything else by orders of magnitude.

          E.g. your list "hold X" "appoint Y", spend a rounding error more on something, do temporary thing N with no lasting benefit or effect etc.

• 

  Nugs on 24/11/2024 - 18:57

  +5

  "Is the RBA correct in holding interest rates?"
  No, they need to raise them
  .

  • 

    HeWhoKnows on 24/11/2024 - 19:48

    If these observations continue to hold true and inflation takes off again, then yes.

• 

  LVlahov on 24/11/2024 - 19:22

  +5

  Government has their foot on the accelerator (net migration, high standard energy prices, tax cuts & increases to public spending & handouts) while also having a foot stuck on the brake (record declines in per capita disposable income and standards of living and high interest rates from the RBA necessitated by the former policies).

  A policy mix that sends Australia down the toilet for most while allowing some to make out like bandits, while enabling just enough spin (from a compliant media and academic class) to keep them electable.

  Solutions that would actually work: lowering net migration numbers to their 1950 to 2000 average, reserving sufficient gas at reasonable prices for domestic use, and allowing a better balance between mega infrastructure investment (to host 20 million more Australian's via mass migration over the next 45 years), and domestic construction to decease house prices from unlocked construction worker supply.

  But doing the above crosses the hardest ideological line there is in Australia supported by both majors, every mainstream media outlet and the Greens (and is the reason this post will get downvoted). Australia must be given away such that half the population in 2070 should have no connection to the people here today. For Labor and Green voters (as fast and as rapidly as possible), for Liberal Party elected members (similar but a bit slower as slower is now more popular amongst the broader public, swing voters and their voting base).

  • 

    7ekn00 on 24/11/2024 - 19:37

    +5

    Yep, essentially same globalist agenda on both sides masquerading as a "choice" between them :/

  • 

    mrdean on 24/11/2024 - 20:53

    +1

    The government are implementing the United Nations Agenda for Sustainable Development Goals by 2030.

    It is simple. The policies they are enacting are for the agenda, not for the people of Australia.

    • 

      7ekn00 on 24/11/2024 - 23:31

      +2

      For anybody not following along, it's this agenda in play: https://sdgs.un.org/2030agenda

      Love how they use big words to make it sound like it's something that will improve our lives, all while selling out to unelected globalists like the WEF, WHO and UN …

• 

  ihbh on 24/11/2024 - 19:44

  We mostly buy whole food plant based goods so haven't experience inflation as much. The 1.6kg oats are still $3.10 (I think they went down over the last 4 years, at least on a per unit basis as they released a bigger pack).

  The only thing that increased recently after being steady for yonks was the home brand soy milk (~15% soy protein) from Coles and Woolworths from $1.60 to $1.70.

  Note chocolate prices have increased in line with increased global cacao prices - look at the price charts of the raw materials.

  • 

    HeWhoKnows on 24/11/2024 - 19:54

    +1

    The prices quoted for Soy milk are for the home brands - $1.15 in October up to $1.35 this month. (+17%)
    I also buy the Aldi brand 750g rolled oats which were selling for $1.29 last year and $1.49 this year (+15%).
    But rolled oats havent increased this month so not included as a "recent" price increase.

    • 

      ihbh on 24/11/2024 - 22:09

      Each supermarket has two home brand soy milks I think; one with very little soy protein and the other I mentioned (~15%). The 15% one has only recently increased by 10c from $1.60 to $1.70.

      I'm surprised the lower soy protein % increased by so much - might mean there are more fixed costs such as transport.

• 

  Neoika on 24/11/2024 - 20:09

  +1

  Product A price +10%, sell 100/day

  Product B price -4%, sell 1/day

  Average inflation is 3%

  This simple example tells the 3% can't be right as I think the quantity sold isn't included any of the statistics.

• 

  JIMB0 on 24/11/2024 - 20:37

  Time to put up interest rates again.

• 

  CheapskateQueen on 24/11/2024 - 20:48

  +1

  well i walked into woolworths yesterday and hardly anything worthwhile was on special and some things had gone up in price again. it was so stressful tbh. i bought a few things that i can't get from aldi and off i went.

  • 

    mrdean on 24/11/2024 - 20:54

    +1

    We'll be shopping in dumpters pretty soon.

• 

  gamemaster on 24/11/2024 - 20:56

  +2

  This is profiteering IMO, I think corporations have way too much control and governments have financial incentive not to change the status quo. It’s not unthinkable that corporations will end up owning most/all the assets and people will end up working a lifetime just to survive, never to get ahead.

  • 

    mrdean on 24/11/2024 - 21:00

    +1

    Yep, corporations have been consolidating power at an increasingly rapid rate, especially since the "privatization" era.

    • 

      Protractor on 25/11/2024 - 00:03

      +1

      Funny you should say that. I detect a slight sign of it since the US election. From all the most powerful propagandist anti vaxxers and zillionaires. What a conundrum for the anti vaxxer flock to handle. Looking forward to the mental juggling acts ahead.
      PS Thankyou Mr Kennedy for the endless jokes ahead.

• 

  mrdean on 24/11/2024 - 20:59

  +1

  The coles eggs I buy occasionally recently went up 5%, after the forced & unnecessary bird culling.

  I actually get the feeling the supermarkets are being very selective with price increases, in order to not panic the population.

  • 

    Protractor on 25/11/2024 - 00:08

    Did you know that all commercial chickens are vaccinated multiple times as day old chicks and some during their growing stages?
    Do you drink cows milk too? Eat red meat or chicken?

• 

  Look Up on 24/11/2024 - 21:12

  Are we seeing a sharp uptick in inflation again?
  Is the RBA correct in holding interest rates?

  Why don't you ask the guy who bought $100K in Amazon gift cards?

  https://www.ozbargain.com.au/comment/15953505/redir

• 

  MS Paint on 24/11/2024 - 21:15

  +1

  OP has proven he knows exactly how to correctly reply to posts yet will continue to reply to the top post in all future forum threads. FFS

  • 

    2025 on 25/11/2024 - 00:40

    Terminal lucidity perhaps?

• 

  Protractor on 24/11/2024 - 23:47

  -3

  Liberal stooge drops propaganda BS on shopping forum. Well done . Next time consider not regurgitating the cherry picked AI created script you were given.
  This post has all the inflammatory hyperbole of Newscorp dribble. That's no coincidence.

  EDIT: Fuel is cheaper across the board, so join the dots. Greed and opportunism is not inflation.
  The "gumnt" is not to blame, nor is the reserve bank

  • 

    LVlahov on 25/11/2024 - 00:43

    +2

    Fuel is down and is one of the things relatively immune to government policy (unless adjusting the fuel excise price up or down, neither of which has happened) and local purchasing behaviour, so no credit to the government for that.

    Meanwhile pumping in record levels of net migrants (entirely within the government's control), the majority of which join the press for housing does significantly add to housing costs and thus inflationary pressures, particularly for those renting, purchasing a home or repaying a mortgage. (As does the need to divert local workers to infrastructure projects to accommodate the growth).

    The idea that the government has done something about inflation in the face of this is gaslighting the public. The RBA massively rising interest rates and the RECORD per capita recession instigated by the government's policies combined with the RBA's actions have lowered inflation.

    i.e. it is by causing record per capita quality of life HARM that inflation has been tamed, made all the harder because of the government's actions to favour foreign (migrant) interests, and the vested wealthy interests here that profit from their entry over those here and well established.

    Achieving a record reduction in per capita disposable income to tame inflation is not an achievement.. it is an inditement.

    • 

      LVlahov on 25/11/2024 - 00:46

      For the data that supports that conclusion: https://www.macrobusiness.com.au/2024/02/inside-australias-w…