Is the cost of living crisis over in Australia? | The Daily Aus

[@jvvoid]

I am an economist. The effect of Covid on the global economy created a massive supply side shock. Pent up public demand for goods and services combined with latency in supply of same created an opportunity for manufacturers and service providers to raise prices without fear of losing turnover, thereby increasing profits - particularly when manufacturing and inputs normalised, leaving us with an inflation trend seen globally. Re-establishing real wages growth will take time to bring itself into some alignment with price increases. The invasion of Ukraine and the spike in cost of shipping goods globally exacerbated a tinderbox situation with consumers sitting on unspent Govt Covid subsidies and manufacturing not able to reach full output long after the consumer shackles of Covid were released.

[@Xscapeplan01]

If believe politicians and corps you also believe in fairies

[@vegan.rex_8]

What makes it worse is that I believe more in fairies than I do in politicians and corps

[@Michelle-q4t]

Rubbish. Grocery prices increased by at least 10% just a couple of weeks ago.

[@Peekaboo-Kitty]

You know Labor Politicians are lying when they open their mouths!

[@gregwooldridge8864]

Cost of living has gone down. No home no food.

[@SpookFilthy]

The IMF just said Australia will have the second worst inflation in the world for advanced economies next year behind Slovakia.

[@vegan.rex_8]

nope, the cost of living crisis is not over. i live in one of the cheapest suburbs in sydney and cook all my food at home. more than 50% of my take home income goes towards rent.

[@whiskeygamer9402]

ALP supporters who live in La La Land believe the Cost of living crisis is over🤣🤣

[@JacksDailyDrives]

Yeah houses are totally affordable, I don’t know what people are complaining about 😂

[@ssj4vrn]

can they share what they are smoking

[@vmura]

the Gov is over

[@gregorymcleod]

You are not reporting the fact of per capita recession which is the longest in history of Australia. The cause your economist is not looking into is the huge increase in population. There is not the fundamentals like infastructure and housing to counter this huge increases in population. No one in Australia can say they are better off under this Government. It is a visous cycle you increase wages you increase costs to manufacturing and sales this drives prices higher.

[@Bobafe77a]

Yep, high cost of living has been lowered. You can all go out and enjoy yourselves. Everything's fine. Nothing to see here. The economy's booming.

[@coolneighbour2936]

So all of a sudden electricity, rent, groceries, toll roads, baby sitting, will just all go down at once?

[@alanhughes1262]

10 dollars for a beer in a pub it costs 50 cents to make c'mon man .

[@ssj4vrn]

and fellows, this is how you gaslight the public.

[@sebastianfinocchiaro870]

It is certainly not over, far from it.

[@jvvoid]

The housing market has gone crazy since Howard's CGT and negative gearing changes in 2000. I laugh at all the biased or economic illiterates commenting here thinking cost of living is about house prices. Rent is part of it, not house prices.

[@rebeccaavoca9143]

bullshit!! timtam costs $6 now!!

[@brett_flower]

Well...example 1- Home brand Soy Milk $1.15 last week. This week $1.35. That's a 17.4% increase in just one week....so ...yeah / nah...

[@rabidsminions2079]

Inflation depends on what kind of annual profit corporations want, the ABC did a report that found that most of the inflation was caused by increased corporate profits 1 or 2 years ago. Consumers need to distrupt corporations who want to raise prices beyond the inflation rate if they can. Ie insurance or just anything you buy don't be afraid to swap over to an alternative that offers a better deal. Only then will corporations get the message and will be reluctant to jack up prices to increase their profit, the penalty will be reduced market share. The consumer has this power.

[@Octavius8080]

OMG what a moron. Houses are millions of dollars but he decides not to count that as inflation because it's not in the CPI. Inflation is 100% caused by printing money in the form of government spending and banks creating debt by over lending. This is so basic economics. "Quantative Easing". Also global economies are linked it's not just what our government does it's our economic partners fiscal policy that also creates inflation. Certain countries I will not mention are spending like drunken sailors. He's living in the past.

[@anonymous6779]

Oh yeah thats why I have $0 in my bank account and no car this year because everything is sooo cheap right...

[@Brod92]

Inflation is a tax because of too much government spending. The working class will always cop the bill

[@jvvoid]

Govt spending when the economy is weak cannot contribute to inflation.

[@Brod92]

@ all of the money the government spends has to come from somewhere. No such thing as government money. It’s either paid by us the taxpayers through income tax, GST, land tax e.t.c Or if the government borrows too much money from the reserve bank, we still pay it back. But they don’t call it a tax even though it is. They call it inflation. All unnecessary government spending is bad for the taxpayers in any economy.

[@gonsleiva3595]

Over? It is only starting

[@adiintel1]

Complete BS what Chalmers said there's light at the end off the tunnel....

[@hmhmhmpandaaa8575]

DID HE JUST SAY HARRIS CARES ABOUT THE ECONOMY ?? WTF ?

[@vegan.rex_8]

Unless you're earning 100k in sydney, you are not financially stable if you're living alone.

[@jackmuir5314]

Deflation is always an alternative. Greg Jericho's thinking is outed - we don't just have a war against 1970s economics thinking.

[@IrisOlweny]

no?? what a ridiculous question

[@Servant_of_Christ]

I rebuilt my sailboat to a live-aboard bugout survival pod. My yearly cost of living is down to $3500 including everything even internet, just do like me! 🇸🇪

[@Power_Prawnstar]

I'm not living on a boat, not a chamce

[@humanresources3545]

How will I get a sailboat?

[@humanresources3545]

I pay twice that for food.

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[@coolneighbour2936]

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[@coolneighbour2936]

Fucking ridiculous mate