Inflation is soaring to new highs. From rising interest rates to increased petrol prices, it's hitting Australians' hip pockets. We've taken a look at your top questions.
When the RBA increases interest rates, many people need toto the fall in consumer demand and drop their prices accordingly.Which country has the highest inflation rate?
According to the World Economic Forum, over the past two years inflation rates have doubled in 37 of 44 advanced economies."Turkey has experienced high inflation for years, but it shot up in late 2021 as the government pursued unorthodox economic policies, such as cutting interest rates rather than raising them," theWatchATO warns you can't over claim at tax time to help with cost of living.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: