To The Moon

Hey Aussie, According to the Australian Bureau of Statistics, consumer price inflation has returned to a 32-year high after dipping to 6.9 percent in October. In November, retail sales reached an 11th consecutive record month, reducing the likelihood of the Reserve Bank of Australia pausing interest rate increases.The Reserve Bank of Australia raised the cash rate by 25bps to 3.1% at its final meeting of 2022, matching market forecasts. The move marked the eighth straight rate hike, taking borrowing costs to a level not seen since November 2012, with the board flagging more rate hikes ahead as inflation in Australia is too high. Prior to Wednesday, Australian economists had hedged their bets about the RBA's February rate hike, with some predicting a pause for a month while the RBA digested the decision. However, the facts were not as expected. Inflation has taken off again to reach 7.3 per cent. The CPI boost was driven by home building costs, which were up 9.6 per cent, almost entirely due to a near 18 per cent rise in material costs; food and beverage costs were up 9.4 per cent; and transport, up 9 per cent. Marcel Thieliant, senior economist at Capital Economics said the strong inflation and retail trade results would prompt the RBA to press ahead with interest rate rises at its February meeting. What is your opinion regarding inflation hitting 7.3 percent? 💡Share Your Insights Please leave a message in the comments section of this post, and share your insights about inflation.💸💸💸 What is your opinion regarding inflation hitting 7.3 percent? How much do you expect the Australian Federal Reserve to raise interest rates at its next meeting? 50 or 25 bps? and why？ 🎁Prizes 🐯All Tigers who comment on the following post will receive 10 Tiger Coins. 🐯10 Tigers will receive 100 coins for the most popular and high-quality comments. In addition, you get a chance to win USD 5 stock voucher( Australian citizens only 🇦🇺). ⏰Activity Duration 12 January 2023-30 January 2023