It’s not just petrol driving up inflation - the price of vegetable oils, screwdrivers and cleaning products have also gone up. auspol
It’s not just high petrol prices or construction costs driving up inflation. The cost of other essential household goods, including vegetable oils, screwdrivers and cleaning products, has risen sharply and, in some cases, by rates not seen in 30 years or more.
Senior food retail analyst for Rabobank, Michael Harvey, said food prices had risen “across the grocery basket”, increasing 5.9 per cent year-on-year. It’s the highest year-on-year increase since the September quarter in 2011.Loading The Ukraine war had also pushed up global prices for grains, which had dragged up the price of wheat in Australia and fed through the supply chain, he said, adding to the cost of bread, which had risen by 7.2 per cent over the year – its highest rate since the December quarter 2008.Vegetable prices, up 14.6 per cent over the past year, had been affected by local challenges including floods and worker shortages, Harvey said.
But it’s not just food that has risen at rates not seen for decades. The cost of furniture and furnishings has increased by 8.2 per cent, the highest rate in nearly 32 years, and the cost of home maintenance and repair, up 5.9 per cent, has not increased at that rate since 2001.
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