Jericho shows that inflation measurements can very widely for different types of household. Those with limited incomes (including government benefit recipients), who spend more of their income on ‘non-discretionary’ items, face an especially large threat to their real living standards as inflation picks up.
See Greg’s full column, “With inflation on the rise, Australia’s cost of living will dominate the election debate,” in the Guardian Australia.
A new report on Australia’s standard of living has found that low real wages, underfunded public services and skyrocketing prices have left many families experiencing hardship and hopelessness.
Business representatives sit down today with government and others to talk about productivity. Who, according to those business representatives, will need to change the way they do things?
Minimum and award wages should grow by 5 to 9 per cent this year