Official inflation figures released today show inflation running at 5.1% the highest for over two decades since the boost given by the introduction of the GST.
Not something the Coalition wanted to hear during an election. It will be interesting to see if the RBA raises interest rates on Tuesday because this is far outside the RBA’s preferred range of 2 to 3 percent.
Still don’t see what raising domestic interest rates does to curb inflation caused by global issues.
A small box of grass seed last year cost a pound, this year its £1.25, 3% inflation I don’t think so, the headline figure is always wide of the mark .
It puts a damper on the economy which is booming at the moment with a critical shortage of labour.
Surely the global situation now, and what is up and coming should be enough of a damper in its own right. You may have a situation like here, raise interest rates to curb the folks with disposable income, then give the less well to do £150.00 each to help with their financial crisis.
Forget everything else, the CPI and all that crap, we are in trouble now, its all about the curry Index. got the new menu today,25% increases across the board. We are now in trouble, the shit has hit the fan, the time is now for change.
What is Ricki goin to do about the 25% increase in the price of a Shami Kebab Starter?
Forget the Oil and Gas price hikes, lets break down what has happened to the Takeaway cost!!
Shami Kebab Starter, Last week £2.95 This week £3.95
Chicken Tikka Masala, Last week £6.95 This week £7.95
Fried Rice, Last week £2.50 This week £2.95
Keema Naan, Last week £2.50 This week £3.50
Total Cost, Last week £14.90This week £18.35
That is a ball park 24% increase, how is the ordinary person in the street expected to cope?
Yet to analyze what has gone on at the Chip Shop.
Short back & sides £8 last year, £12 this year.
In fairness, the Service Industry has always been a bit volatile, the Takeaway Industry (especially on a Saturday Night) is fundamental to British Culture, and a 24% hike is not cricket, old boy!!!
Still can’t reconcile 24%, I feel a diet coming on, time to tighten the belt.
Supermarket profits are up 25% on average !!
Despite many items missing from the shelves ??
Donkeyman! 
Is 25% par for the course?
Hi
Raising Interest Rates is a very blunt thing to do, it increases the wealth of those with savings, but punishes those who have mortgages or debts.
It also punishes those who rent or who are on Benefits.
It has no real effect other than that.
Agreed Swimmy, after all these years, its the only tool in the toolbox, and, a select few are paid squillions to move the rate a quarter % either way.
Look at the small print, its a sad day for King Prawn lovers.
The Reserve Bank of Australia has raised the cash rate by 0.25% the first rate hike for nearly a generation. It is forecast another rise will occur in June. The rate is now 0.35%
The Commonwealth Bank is forecasting the rate to be 1.3% by the end of the year that is the most conservative forecast.
Good news for me I have to say.
It is now more financially viable tp make your own curry now.
