Expectations the Reserve Bank is likely to keep rates on hold will be of little relief to mortgage holders. Here are the simple, brutal numbers behind why people are hurting.
There won't be protest marches in the streets when the Reserve Bank of Australia makes its next decision on interest rates.Many of them will be trying to get it all done before school pick-up, or perhaps before the childcare centre starts charging $20 a minute for every 60 seconds you're not there to nab your kid by 6pm.
In the end, the "headline" annual rate of inflation was at 3.8 per cent, up from 3.6 per cent at the last time we looked, though still lower than what some economists had feared. In the time since that first hike, the average annual wage increase inked in big employment agreements brokered by unions has been 4.6 per cent.
This doesn't mean all Baby Boomers are rich, but on average they are wealthier than people who haven't had the same amount of time to amass assets. The federal government has introduced small measures such as energy bill rebates to help reduce people's cost of living without boosting inflation.
Reserve Bank Decision Generational Divide Society Cost Of Living Inflation
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