Inflation

Where the cost of living crisis is biting hardest; China's pivot from growth to security; AI is a marathon, not a sprint; why interest rates might stay higher for longer; and plenty more in this week's Fodder.

Queensland's Premier Steven Miles appears to be out of his depth. Last week he called for RBA rate cuts, and announced reviews into supermarket pricing and homelessness. On Sunday he released a rental package that risks making the situation worse.

I fired up my crystal ball and took a bit of a punt on this one. Well, not really, but if you're interested in my thinking on when the RBA might start cutting rates (hint: not anytime soon) then you should check it out.

I thought I’d kick the year off by commenting on perhaps the biggest issue facing the average Australian last year, and one that looks set to continue in 2024: inflation and the cost-of-living crisis. According to the ABS:

Who has fared the worst from the recent bout of inflation and ongoing cost of living crisis? It’s not who you might think from reading headline after headline about Australia’s rental crisis:

Australia’s rate of inflation – as measured by the Consumer Price Index, or CPI – “ rose 1.2 per cent in the September 2023 quarter and 5.4 per cent annually, according to the latest data from the Australian Bureau of Statistics (ABS)”: