Supermarket pricing is a big story but let’s forget the media coverage, the politician sound bytes and the corporate PR for a moment. What are ordinary Australians saying about supermarket pricing?
Peter Martin, Crawford School of Public Policy, Australian National University
Per person, we’re spending less this year – even on this year’s much hyped Black Friday sales. If that continues over summer and inflation stays low, a rate hike in February 2024 looks unlikely.
The UK, eurozone and US inflation stories have diverged, which means each economy is now fighting a distinct battle with prices rises, which could require very different weapons.
The food theft crisis is framed as a threat to paying customers. This furthers the divide between those who can still afford groceries and those who cannot.
Peter Martin, Crawford School of Public Policy, Australian National University
Australian financial markets are now pointing to a close to zero chance of further rate rises – with a fair chance of a rate cut next year. That’s thanks to the latest news from the US and UK.
The persistence of food insecurity in Canada is a policy choice. By not doing more to improve the adequacy and stability of household income, governments are choosing to let food insecurity fester.
Inflation has slipped from 6% to 5.4%, but the price of petrol climbed 7.2% in the September quarter. Much depends on what the RBA thinks will happen from here on.