Peter Martin, Crawford School of Public Policy, Australian National University
Asked how high an inflation rate Australia should prepare to tolerate, three of the 48 economists nominated 8% or higher. Seven expected inflation to fall without the need for further action.
The triple lock increases some benefits payments by inflation, earnings or 2.5%, whichever is highest.
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Inflation is soaring, but prices for typical back-to-school gear like backpacks, computers and new clothes are rising less than average – or even falling.
Household bills have spiked in 2022.
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Here’s how the government can provide clarity on the volatile cost of living crisis
British Columbian workers in the public sector, transit and transportation have voted to take job action in recent weeks to fight for their right to earn livable wages.
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With a recession seeming imminent, many Canadians are rightfully concerned about the state of their finances. Here are some ways you can be prepared for one.
Inflation rates are currently rising, reflecting the increasing cost of goods and services.
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Central banks are trying to strike a balance between curbing inflation and enabling economic growth.
A variety of factors have caused the U.S. inflation rate to increase over the past few years, from the pandemic to the war in Ukraine.
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Rising inflation rates due to supply-side factors – COVID-19, Ukraine and supply chain shortages – make countering inflation difficult for the central bank.
The Inflation Reduction Act of 2022 bill in Congress may reduce inflation. Or it may not. What it will do is add to the long history of legislation names aimed at drumming up support for a bill.
The US economy shrank for a second straight quarter. While some call that a recession or a strong sign of one, a financial economist explains why the term probably doesn’t yet apply.
Treasurer Jim Chalmers will tell parliament on Thursday that estimated growth has been cut by half a percentage point for last financial year, this financial year and next year.
Inflation has hit 6.1%, and the rate of inflation on necessities is 7.6%. Bringing it down will require still higher interest rates and exquisite judgement in order to avoid a recession.
Rishi Sunak and Liz Truss, pictured at the second Conservative leadership TV debate, are set to debate again on July 25 2022.
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Tax cuts could ease the burden on households and small businesses that are struggling, alongside tax increases for large firms.
Productivity is key in reducing inflation – it rides on innovation and efficiency, which should be encouraged.
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