Australia’s inflation ‘higher’ than what was anticipated

Sky News Business Editor Ross Greenwood says Australia’s inflation is “higher than what it was anticipated to be”.
Mr Greenwood said it has led to many people suggesting the Reserve Bank of Australia will “delay interest rate cuts” until sometime next year.
“The interesting thing for government right now is to whether the first interest rate cut will eventually come after the time of the next election.
“Because you’ve got some sense that maybe the timing of that first interest rate cut might’ve come when the election was going to take place.”
Mr Boyd joined Sky News host Peta Credlin to discuss concerns of the government’s tax cuts potentially adding to inflation.

[@Deano00777]

Remember when people were sitting at home and getting $750 a week to do nothing. All that money now needs to be reigned in.

[@jaysmith3361]

People no longer complain at the supermarket checkout - they just quietly cry.

[@emcats84]

No one is shocked except the "experts".

[@paddlesmcbean2366]

My mortgage just went up 4 times as much as I’ll get from the tax cut. Don’t forget that labor got rid of the $1500 rebate for low to middle income earners plus they increased the fuel excise from 23 cents per litre to 49 cents per litre, plus too many other taxes to mention.

[@vincentcacciola7161]

It's called a burnout economy RBA foot on the brake and the government spending like drunken sailors hilarious

[@kane-vn6bn]

if you voted labor. this is your fault

[@DaveGamesRoom]

$1 billion into US super computer… this government is insane.

[@wyattfamily8997]

With a Government that spends more money than we have ( borrowed money) who would even be surprised. We are currently $ 894 BILLION in debt which is expected to pass $ 1 TRILLION within 12 months. We are screwed by incompetence.

[@Harve955]

Yeah $15 a week will make a huge difference to Inflation about as much difference as it will to our ability to pay the bills I.E None

[@witsend008]

I , retired , keep a daily rolling account of the cost of our small household. Without any material change in our lifestyle our living costs as per 2nd of May 2024 have increased 17.10 % compared to the same period in 2023. ( 307 days ) .We have no mortgage and are totally debt free. The increase of debt servicing does not apply , otherwise the increase of the cost of living would still be higher. My heart goes out to young families with kids.

[@Jack-qk3xv]

How dare the people keep sightly more of their hard earned money. Albo knows how to spend it better, right?

[@NinjaKuma]

Labor SCREWED the middle class by cutting the stage 3 tax cut for higher earners, so now LESS is available for people, so guess what? RENT RISES!!!!

[@murrayslee911]

ALP giving some people $15 a week while picking your pocket for hundred's of $s in electricity bills and flow on costs of living.

[@batmanlives6456]

Does that surprise anyone?

[@nigelbarry4048]

As a consumer I can say that inflation is way under reported, I’ve seen increases of 50 and 75% on many item at Woolworths over the last year.

[@IB4U2Cme]

Taxes and inflation are kin of the same breed. There is no way tax cuts are inflationary unless the government is printing the money. A tax cut apart from a cut in spending is just a deferred tax.

[@unclebuck8558]

So let’s understand this correctly

[@jjsc4396]

Gee....no one didn't see that coming 🙄

[@momaslilboy1781]

my tax return last year was $100 and I had to pay the accountant $110.

[@richards8718]

RBA has no control of interest rates it is dictated by the USA FED and they may lift rates not down.