economy
Living costs rising despite cooling inflation
7 May
Australian households who depend on government payments have faced the highest increases in living costs this year, new data shows. Age pensioners and other recipients of government help faced 1.6 per cent higher living costs in the March quarter,...[Read More]
Energy suppliers use cold snap to fire up power prices
24 July
Power producers chasing profits during a cold snap have stoked wholesale electricity price rises in recent months, according to the latest data. Wholesale electricity prices have increased across all regions except Queensland as more expensive gas...[Read More]
Cash can’t crash: why physical money is here to stay
19 June
It’s said money talks, but the conversation about a cashless society has grown ‘coinvoluted’. From credit and debit cards, to digital wallets on mobile phones – the ways Australians now choose to pay has sparked questions about whether cash...[Read More]
Hotter-than-expected inflation leaves RBA in tight spot
26 June
An unexpectedly large jump in the monthly consumer price index is unwelcome news for the Reserve Bank of Australia in its lengthy inflation battle. The monthly consumer price index rose four per cent over the 12 months to May, above expectations and...[Read More]
Prices coming down as Coles keeps tabs on Trump tariffs
30 April
Prices on major products are beginning to fall at Coles as the supermarket giant keeps a close eye on any impacts of Donald Trump’s tariffs on products. Australia’s second largest supermarket chain on Wednesday unveiled a 3.7 per cent increase...[Read More]
Savings found to cover billions in new federal spending
13 December
Almost $10 billion in savings and spending changes have been clawed back as part of the mid-year federal budget review. The savings and reprioritisations include billions slashed from the federal infrastructure pipeline last month, the finance...[Read More]
Mid-year budget review examines challenges for economy
13 December
KEY CHALLENGES FOR AUSTRALIA’S ECONOMY * Economic growth is expected to moderate to 1.75 per cent in 2023/24 before recovering to 2.25 per cent in 2024/25 * Household budgets remain under pressure from elevated but moderating inflation and higher...[Read More]
Major projects funding to be slashed by billions
13 December
Spending on road and rail projects is expected to be adjusted by $7.4 billion over four years under a re-profiling by the Albanese government. The mid-year budget update, released on Wednesday by Treasurer Jim Chalmers, reveals reforms to the...[Read More]
Financial boost on the way for working pensioners
18 October
Seniors will soon be able to earn more money without their fortnightly age pension being affected. Laws introduced to federal parliament on Wednesday will give a $4000 boost to those on the pension who are also doing some paid work. Under the...[Read More]
Welcome progress on inflation as rate hikes take effect
30 August
The pace of inflation has slowed more than expected, suggesting the Reserve Bank’s rapid-fire interest rate hikes are working. The Australian Bureau of Statistics reported a healthy moderation in its monthly consumer price index to 4.9 per cent in...[Read More]