‘Worse than the pandemic’: Meal delivery company Marley Spoon says produce shortages to continue throughout winter
KFC may have grabbed headlines by switching from lettuce to cabbage, but the food shortage cuts across all fresh produce lines, according to Marley Spoon.
Inflation to peak at 7% by year end before easing: RBA Governor Philip Lowe
The governor of the Reserve Bank of Australia (RBA) has predicted headline inflation is likely to hit highs of 7% and peak by the end of the year.
Minimum wage rises 5.2% to $21.38 an hour, giving a boost to 2.7 million Australians as cost of living soars
Australia's minimum wage will rise by 5.2% to $21.38 an hour, the Fair Work Commission has ruled.
“Canary down the inflationary coalmine”: Government support needed to shield construction, industry group says
Canberra should use all the tools at its disposal to shield the construction sector from inflationary pain, Master Builders Australia says.
Why the RBA won’t continue to raise rates at the level the market expects
The RBA, in a nod to homeowners concerned about continual rate hikes, said it expected inflation to climb just a bit more before declining back towards its target next year.
RBA hikes cash rate by 50 basis points, Chalmers flags “cost of living package” in October budget
The Reserve Bank of Australia has increased the cash rate by 50 basis points, bringing it up to 85 basis points or 0.85%.
Why lettuce prices are so high, and why they might stay that way
Lettuce prices are skyrocketing, with Twitter users posting photos of iceberg lettuces for $10 and $11.99, well above the more usual $2.80.
RBA tipped to increase cash rate tomorrow by 0.25%
While some market economists are forecasting a 40 basis point increase, most are expecting a 0.25% increase to the cash rate from the Reserve Bank tomorrow.
High coal and gas costs have Australians paying the price for decarbonising too slowly
Energy exporters are enjoying windfall profits, while households are getting belted by surging energy prices and stagnant wages. Our options are limited — but there are some available.
Labor calls for wage increase to assist “heroes of the pandemic”
Minister for Employment and Workplace Relations Tony Burke has provided further detail on Labor's minimum wage submission made this afternoon to the Fair Work Commission.
Six graphs that explain Australia’s growing economy, and how the share going to wages is shrinking
Even though more of the population is in work than ever before, the share of national income going to wages has sunk to a near all-time low of 49.8%.
Chalmers says falling wages, inflation and interest rates the key concerns for Treasury
Jim Chalmers has spent three days with Treasury secretary Dr Steven Kennedy poring over the so-called ‘red book’ brief to discuss the economic lay of the land.
