What is the electricity grid and how does it work? How are energy supply and prices determined? An expert breaks down a few of the terms and ideas underpinning Australia’s energy crisis.
We arrived at this moment thanks to a series of policy decisions under previous governments – state and federal - that left Australia’s energy system unable to cope with the demands placed on it.
A bigger-than-expected jump in inflation means the Fed may have to get more aggressive about interest rate hikes. An obscure economic indicator suggests it has room to do so.
Labor knew it would inherent a cost-of-living problem – it campaigned on it. But it didn’t expect the dramatic crisis in gas prices Australia is suddenly facing
The Federal Reserve is expected to lift interest rates a half point at its next meeting and more in the coming months, but it may be too late to forestall an economic downturn.
Grain and fertilizer shortages, higher shipping costs and a strong dollar are all pushing food prices up and increasing hunger in dozens of vulnerable countries.
The consumer price index, which measures everything from the price of peanut butter to gasoline, jumped at an annualized pace of 8.5% in March 2022 as inflation continued to accelerate.
Consumers are feeling pain at the pump and demanding solutions. Some politicians are pushing gasoline tax waivers – but that means less money to fix roads, and often not much economic relief.
Australia might be a long way away, but fossil fuel price spikes triggered by the Russian invasion of Ukraine are hitting households hard. We could have avoided this pain.