Inflation holds steady but services prove stubborn

27 March

The final stretch to bring inflation back to target is proving challenging, based on fresh data, though that is broadly what the Reserve Bank expected. The Australian Bureau of Statistics’ monthly inflation indicator held steady at 3.4 per cent...[Read More]

‚ÄėDeliberate demand destruction‚Äô of gas stings consumers

27 March

Demonising gas is adding to the cost of living crisis, exacerbating the domestic supply gap and threatening investment in Australia, according to the gas industry. Senex Energy chief executive Ian Davies has accused the federal government of...[Read More]

Attempt to break up supermarkets labelled ‚Äėdeficient‚Äô

27 March

Ending supermarket price gouging without unintended consequences is important, the Nationals say, but can be done through a deal with the Liberals rather than the Greens. As Coles and Woolworths record more than a billion dollars in profits,...[Read More]

Rising price of instant coffee a bitter blend

20 March

The cost of a morning brew came under fire in parliament as it was revealed a tin of coffee has almost doubled in price within a year at some major supermarkets. Labor MP Steve Georganas lifted the lid on the price hike of Nescafe-branded coffee...[Read More]

Swifties boost spending

13 March

The Australian economy got a leg up from Taylor Swift concerts but the much-anticipated visit was not enough to counter penny pinching elsewhere. Spending as tracked by Commonwealth Bank has been generally subdued and fell 0.3 per cent over the...[Read More]

WA ranked first, Vic last on economic performance: IPA

13 March

Western Australia is the nation’s best economic performer while Victoria lags behind all other states, a new report reveals. Australia’s western-most state leads other states on three measures including low taxes and energy prices and high wages...[Read More]

Inflation results show signs of waning price pressures

6 March

Steady latest inflation results may seem disappointing at face value but are better than the jump economists were expecting. The Australian Bureau of Statistics monthly consumer price index data, a key measure of inflation, lifted by 3.4 per cent in...[Read More]

Millions of welfare recipients to get boost in payments

6 March

Australians on social security are set to receive more money in their pockets when payments are indexed. Those on the age pension, disability support pension and carer payment will pocket an extra $19.60 for singles and $29.40 for couples combined...[Read More]

Economy grows 0.2 per cent in December quarter

6 March

Australia’s economy expanded 0.2 per cent in the December quarter, propped up by government spending and private business investment. The quarterly lift in the Australian Bureau of Statistics’ official growth measure was a touch softer than...[Read More]

Electric cars crash Aussie records but utes top charts

6 March

Electric cars made up almost one in 10 new vehicles sold in Australia, according to new data, in the best result for the low-emission technology to date. But the popularity of diesel utes also soared by 26 per cent in Australia during February,...[Read More]

Aussie workers above average on artificial intelligence

28 February

Australia’s desk workers are above the global average in adopting artificial intelligence but say guidance is lacking from bosses on how it should be used. Research data released on Wednesday shows one in four have tried AI tools for work as of...[Read More]

Consumer price index steady at 3.4 per cent in January

28 February

Australia’s consumer price index held steady at 3.4 per cent in the 12 months to January, coming in below expectations. The index had been widely expected to rise by 3.6 per cent on an annual basis, when the data was released by the Australian...[Read More]

Jetsetters and shoppers spend big as confidence returns

17 January

Australians have begun opening their wallets, with consumer confidence making a comeback amid positive economic signs. Consumers spent an average of nearly $200 more during the 2023 Black Friday and holiday season compared to the year before,...[Read More]

Unemployment to stay low despite drop in job vacancies

10 January

Unemployment remains stubbornly low amid a gradual cooling in the jobs market, but the resilience of the Australian economy is being tested by a global slowdown. Job vacancies dropped 0.7 per cent to 389,000 in the three months to November 2023,...[Read More]

Storm clouds loom for economy as rain, floods take toll

10 January

Storms and heavy flooding could wash away Australia’s budget bottom line despite inflation levels receding. Communities in far north Queensland and the state’s southeast have been battered by severe rain, while residents in Victoria, South...[Read More]