This year's global inflation is too severe, and the same is true in Tu'ao.
The cost of living is rising continuously, which has brought unprecedented pressure to many residents.
However, this trend has not stopped yet.
Recently, two of Australia's largest supermarket brands announced that they may raise prices across the board in just a few weeks!
Picture source: news
According to reports, (Australia’s largest Internet celebrity Douyin account "Wei Sydney" will show you all the interesting things about Australian life! A must-have for studying abroad, traveling and immigrating! Please search on the Douyin account for " Micro Sydney", we are here for you!)
Coles and Woolworths will have to increase prices,
all respond to supplier requirements.
The household inflation rate, as measured by the household inflation rate, increased by 2.1%, reflecting a year-on-year increase of 5.1%.
The largest quarterly gains were seen in fuel prices (11%), with grocery prices rising 4%.
Source: news
Supermarkets have 30 days to review price increase requests during negotiations with suppliers,
Recently, Coles chief executive Steven Cain said
The number of price increase requests the company had received was "last year" five times”.
He attributed the demand to labor shortages, raw material costs and rising fuel and utility costs, among other factors.
As a result, Coles reported price inflation of 3.3 per cent in the third quarter and Woolworths reported a figure of 2.7 per cent.
Woolworths is currently implementing a policy that seeks to "notify specified price increase effective dates" within 10 to 12 weeks.
Source: news
Although the Reserve Bank of Australia attempts to curb inflation by raising the official cash rate,
CPI is expected to rise again after results are released in late July and September.
Although the target interest rate is set at 2% to 3%, central bank Governor Philip Lowe is worried that
the interest rate may rise to 7% - a 32-year high.
html In late June, Treasury Secretary Jim Chalmers said he expected inflation to be "significantly higher" than expected, even though it was already at its highest level since 2001.
"Inflation will be significantly higher than the 5.1% we saw in the third quarter, which is what was expected at the election," he said. The problem will become more difficult.
Between now and July, we will have the most accurate assessment of the direction of the inflation challenge.
Source: news
Meanwhile, the Reserve Bank of Australia is expected to raise the official price again on Tuesday. Cash interest rate, (Australia's largest Internet celebrity Douyin account "Micro Sydney" will show you all the interesting things about life in Australia! A must-have for studying abroad, traveling and immigrating! Please search "Micro Sydney" on the Douyin account, we are here Waiting for you!)
Experts expect another 50 basis points increase.
That would push rates to 1.35%, the highest level since 2019.
