After April’s monthly inflation head fake, May has crashed back to earth. The expected was 6.1%, and we got 5.6%. Via the ABS. The monthly CPI indicator rose 5.6% in the twelve months to May. The most significant price rises were Housing (+8.4%), Food and non-alcoholic beverages (+7.9%) and Furnishings, household equipment and services group (+6.0%).

After April’s monthly inflation head fake, May has crashed back to earth. The expected was 6.1%, and we got 5.6%.

  • Rusty Raven @aussie.zoneEnglish
    6·
    1 year ago

    The inflation rate of descriptive language is however still worryingly high.

    What have the journalists got left in their arsenal, if 0.5% lower than expected is a plunge, and 5.6% is crashing back to earth, will they even be able to describe inflation dropping back to the levels typical of the past few years?

      • hitmyspot@aussie.zoneEnglish
        1·
        1 year ago

        Inflation has contracted.sommuch that it has contracted the universe and reversed the big bang. Scientists wonder if the big bang theory was ever accurate or it was just inflation run amok all along.