Interest rates are almost certain to rise again in February, after the latest Consumer Price Index figures showing inflation hitting a record high of 7.8% in 2022.
Peter Martin, Crawford School of Public Policy, Australian National University
The full effects of the eight consecutive increases in the Reserve Bank’s cash rate are yet to become apparent, and there are signs inflation is on the way down.
Governor of the Bank of Canada Tiff Macklem speaks at a press conference in Ottawa in June 2022.
THE CANADIAN PRESS/ Patrick Doyle
The Bank of Canada’s expansionary monetary policy in 2021 is an important source of the high inflation we are experiencing today.
A number of factors have contributed to the recent rise in inflation, including supply chain disruptions, the Russian invasion of Ukraine and labour shortages.
(Shutterstock)
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.
The latest data shows imports of bottle rockets, sparklers and other fireworks at a record pace, even as consumer demand appears likely to wane. That could create opportunities for patient revelers.
Food prices in South Africa are rising.
Photo by Chen Cheng/Xinhua via Getty Images
The buying power of wages shrank a record 2.7% over the year to March, calling into question assurances about the link between low unemployment and high wage growth.
For the first time, there’s almost one job vacancy for every unemployed Australian. But that isn’t translating to better wages.
Threatened by insecurity, Nigerian farmers are increasingly abandoning their land, adding to food inflation.
Photo by Kola Sulaimon/AFP via Getty Images
True wages growth, and true price growth, is probably less than the official figures suggest – meaning there’s no need for alarm about inflation in Australia.