Australian central bank signals future rate rises

SYDNEY, May 17 (Xinhua) — Australia’s central bank has signaled that interest rates would continue to rise following its first rise in 12 years of 0.25 percent earlier this month. The Reserve Bank of Australia (RBA) said in its monthly board meeting on Tuesday that it had considered lifting the cash rate by 0.4 percent, … Read more

Should You Worry About Inflation? The Answer Depends On Your Economic Class

Last week, the Bureau of Labor Statistics (BLS) announced that the Consumer Price Index summary rose 8.3% in April compared to last year. Year-over-year inflation rates have exceeded 5% for more than one year and exceeded 8% for the past three months. The Fed promised to act aggressively, raising interest rates four to six times … Read more

White House Challenges Bezos On Inflation Comments

The White House continues to push back against criticism from Amazon founder Jeff Bezos about his comments on inflation and its impact on the least affluent Americans. In April, consumer inflation rose at an 8.3% pace, prompting concerns about the US economy. On Sunday, Bezos asserted in a tweet that the Build Back Better package … Read more

Claims that minimum wage rise risks ‘runaway’ inflation bogus

The war over wages has become central to public debate in the lead-up to the Federal Election, with Albanese advocating real wages could rise alongside productivity growth, writes Graham White. THERE IS something depressing about the current debate over lifting the minimum wage. Apparently, the only way we can see the economy as functioning properly, … Read more

Inflation Is Cost Households An Additional $341 Per Month

It’s no secret that the rising rate of inflation is hitting American households hard amid reports of the 8.3% increase in consumer prices. According to an analysis by Ryan Sweet, senior director at Moody’s Analytics, Americans are paying an additional $341 per month to purchase the same services and items compared to last year. “This … Read more

Inflation Rose By 8.3% In April In A Sign Efforts To Tame It Are Flailing

Inflation stayed uncomfortably strong in April in a sign that efforts to combat it may not be doing enough to address its flight. On Wednesday, the US Bureau of Labor Statistics released the latest results of its Consumer Price Index (CPI) showing that headline inflation rose by 8.3% in the last year as of April. … Read more

Albanese’s bold move on wage rises leaves Morrison tiptoeing along an extremely delicate line

Even a stopped clock tells the time twice a day, and it is presumably due to a similarly randomised inevitability that the ambient theme of the campaign today was wages and the escalating cost of keeping body and soul together — something that real people actually care about. Huzzah! Albanese’s decision yesterday to put a … Read more

Scott Morrison says Anthony Albanese’s 5.1 per cent pay rise intervention would send interest rates spiralling

Opposition Leader Anthony Albanese is refusing to guarantee he will formally ask the independent wage umpire to lift the minimum wage by 5.1 percent, in line with inflation. Key points: Labor is continuing to push for the minimum wage to be lifted in line with inflation Anthony Albanese has refused to guarantee he would formally … Read more

Biden says White House could drop Trump China tariffs to lower consumer prices

President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the US just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on everything … Read more