The latest CPI figures show inflation has fallen, hopefully putting an end to interest rate rises for the moment. But does that mean the economy is healthy now, or is there more to it?
Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia.
In Dollars & Sense, each week, Greg Jericho will dive into the latest economic figures, and explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.
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Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work
Producer: Jennifer Macey
Theme Music: Blue Dot Sessions
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Historically high corporate profits must take a hit if workers are to claw back real wage losses from the inflationary crisis, according to new research from the Australia Institute’s Centre for Future Work.
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
Every inflationary episode embodies a power struggle within society over who benefits from inflation, who loses out – and who will bear the cost of getting inflation back down.