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Builders have called for more to be done to address alarming rates of inflation in the sector, as rental inflation soars at its quickest rate since 2009.
INFLATION
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The consumer price index for the first three months of 2023 has come in at an annual rate of 7%, down from the 32-year high of 7.8%
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More pain for mortgage holders could be on the way after the Reserve Bank of Australia indicated the possibility of further interest rate rises.
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Falling property prices, inflation and rising interest rates. Is now really the time to buy commercial property?
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If you’re a worker and you didn’t receive a 50 per cent pay rise since the beginning of Covid, then you have gone backwards financially.
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Australia’s annual inflation rate in January eased, implying the worst of the price increases may be over.
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Mortgage holders likely to feel immediate pain but RBA indicates further increases to come in attempt to bring inflation under control.
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Inflation rose 7.8 per cent annually in the December quarter as upwards price pressures on goods and services remain strong.
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Skyrocketing prices have hit Australians hard this year but there are fresh fears that relief isn’t coming and people will be hit hard.
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The world bank has warned the Reserve Bank of Australia must continue to “raise interest rates” to rebalance domestic demand and keep inflation anchored.
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Workers are seeing wages grow at the fastest pace in almost a decade but face further pain with predictions of higher interest rates.
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Minutes of November Reserve Bank of Australia meeting say board is ‘prepared to keep rates unchanged’ while it assesses state of economy and inflation.
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