The treasurer’s economic update to parliament on Thursday will show inflation growing at more than twice the speed of wages.
Treasurer Jim Chalmers’ economic update to parliament on Thursday will show inflation growing at more than twice the speed of wages in the coming year, heaping further pressure on tight household budgets.
“Headlines about another surge in actual inflation when the Q2 CPI is published will likely place some downward pressure on sentiment this week,” ANZ head of Australian economics David Plank said.All leading consumer sentiment indicators remain well below average, including people’s perceptions of future and current financial conditions, as well as current and future economic conditions.
“It is a step towards addressing the nation’s skills crisis, contributing to productivity improvements, economic growth and creating more secure and better employment opportunities for Australian workers.”
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