economy
Australia to dodge United States’ inflation uptick
17 April
Australia is yet to declare victory against inflation and hotter-than-expected price data out of the world’s biggest economy and fresh volatility in oil markets are casting shadows over the outlook. AMP deputy chief economist Diana Mousina says...[Read More]
Budget surplus ‘still our goal’ despite war, inflation
17 April
Australians have been warned the budget surplus could be tiny amid cost-of-living pressures and heightened global economic uncertainty with war in Europe and conflict in the Middle East. A month out from the federal budget, Treasurer Jim Chalmers...[Read More]
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]
Car prices won’t spike under new efficiency standards
27 March
Car prices won’t go up under Labor’s new fuel efficiency standards, Energy Minister Chris Bowen says. Transport Minister Catherine King and Mr Bowen unveiled the government’s final plans for new vehicle rules on Tuesday, which will be...[Read More]
‘Deliberate demand destruction’ 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 ‘deficient’
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]
‘Please don’t forget us’: Ukrainians plead for more aid
27 March
“Please, please don’t forget us.” Those are the pleas of a Ukrainian child experiencing a war with no end in sight. It’s been more than two years since Russia launched its full-scale invasion on Ukraine, where civilians are suffering from...[Read More]
China talks could put Aussie wine and beef on the menu
20 March
Australian producers are hopeful a visit from the Chinese foreign minister could see an end to punitive trade barriers. Despite China easing trade sanctions against Australia, several tariffs and impediments remain, primarily targeting wine, lobster...[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]
China moves to dump tariffs on $1b wine exports
13 March
China has recommended dropping tariffs on Australian wine exports worth $1bn in an interim decision. Beijing is reviewing the sanctions through a five-month process after the Albanese government agreed to suspend Australia’s dispute lodged with...[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]