Captain Chalmers lines up soft landing on narrow runway

12 June

Global headwinds will continue to buffet Australia’s economy as Treasurer Jim Chalmers sets a course for a final approach towards low inflation. Dr Chalmers is confident Australia remains on track for “a soft landing on a narrow runway”,...[Read More]

Universal childcare would be ‘national asset’, PM says

12 June

Australia already has universal schooling, Medicare and superannuation and the prime minister believes childcare should be treated the same way. Early learning and parenting groups have rallied around a Centre for Policy Development plan to fix the...[Read More]

Economy barely growing as higher interest rates bite

5 June

Australia’s economy is still growing but only just, supported in part by household spending on travel, concerts and other major events. The 0.1 per cent of growth over the first three months of the calendar year, came in a little weaker than the...[Read More]

Australian economy slows over March quarter

5 June

AUSTRALIAN ECONOMY SNAPSHOT – MARCH QUARTER 2024 * Australia’s economy grew slightly by 0.1 per cent in the first three months of the year, less than the expected 0.2 per cent * Annual gross domestic product rose 1.1 per cent, but it’s the...[Read More]

Consumer spending the wildcard in rate hike uncertainty

22 May

Australian consumers have been saving rather than spending and a change in behaviour could complicate matters for the Reserve Bank, keeping interest rates higher for longer. The minutes from the central bank’s May meeting confirmed a rate hike was...[Read More]

Treasurer absorbs warnings on budget fuelling inflation

15 May

While the federal government says its budget will lower inflation, analysts counter that broad cost-of-living relief, such as energy rebates and tax cuts, could make things worse. An expanded version of the energy-bill relief delivered in last...[Read More]

Jobseeker cash rise quashed but other help on the cards

1 May

Calls to boost Jobseeker and youth allowance payments have been hosed down by Treasurer Jim Chalmers, who says he will look at other ways to help struggling Australians as he prepares his third budget. A dozen top economists have joined a growing...[Read More]

More cost of living relief on cards in federal budget

24 April

Cost of living help in addition to well-signposted tax relief remains on the cards if the federal government can find room for it in the upcoming budget. Treasurer Jim Chalmers says the tax relief, due to kick in midway through this year, will be...[Read More]

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]

‘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]

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]