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The Latest Breaking News from ABS

As consumers cut spending, governments keep pumping inflation

Inflation continues to resist efforts to bring it down — partly because of government policy. Meanwhile, consumers are spending much less.

Crikey

Inflation rises to 3.8% amid hopes the RBA will hold off hiking interest rates again

Australia’s consumer price index rose in the June quarter in line with economists’ forecasts

The Guardian - AU

Regional Express folds

Regional areas are fearful of losing jobs and tourism after Rex went into voluntary administration yesterday, and the latest inflation data is set to be released.

Crikey

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Housing approvals fall to lowest level in 12 years despite Labor’s pledge of 1.2m new homes

Approved dwellings drop 6.5% in June amid high interest rates and building costs as CoreLogic rues ‘dismal result’

The Guardian - AU

There’s a huge amount riding on the latest inflation figures. Here’s why

The big four banks predict interest rates to be cut, but the RBA may have other ideas

The Guardian - AU

Newcastle unemployment rate hits record low despite shrinking jobs market

The Hunter labour market is 'remarkable'.

Newcastle Herald

Blackmail & Extortion Has Surged In Aus W/ 69% Of Victims Under 24, Here’s What You Need To Know

Evan, 19, found himself at the centre of a sextortion scam when he matched with a verified woman on Tinder.

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Sexual assaults in Australia reach 31-year high

Sexual assaults recorded by police in Australia rose by 11 per cent in 2023 to reach the highest rate of the Bureau of Statistics' 31-year data set.

AAP

Are we measuring inflation correctly? The US experience suggests we might not be

Other countries, including the United States, measure inflation quite differently to us. Is the CPI giving us the best possible understanding of the challenges we’re facing?

Crikey

There’s a yawning Coalition credibility gap on the cost of renewables and nuclear

Peter Dutton says renewable energy is too expensive – and unveils a plan to switch to nuclear, which the CSIRO says will cost 50% more than wind or solar

The Guardian - AU

Households are hurting. Savings are weak. The future’s uncertain. Is a rate cut near?

While some like to suggest another hike is needed, the RBA is not so quick to dismiss the pain the economy is already feeling

The Guardian - AU

‘There’s 20% more methane than they thought’: new data confirms Australia has been undercounting cattle

The Australian Bureau of Statistics updated its methodology and says there are 4 million more cattle than previously estimated

The Guardian - AU

Australia’s unemployment rate dips to 4% as economy adds 40,000 new jobs

Jobless rate eases as employers shrug off rising costs to keep adding to their workforces

The Guardian - AU

Jobs market put to test in sluggish economy

Economists expect another relatively robust jobs report for the month of May even as higher interest rates knock the economy around.

AAP

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Crikey

Ordinary households are struggling in a stagnant economy. Lay off them

Interest rate hikes have clobbered the economy into near-zero growth as ordinary households run down their savings to fund the basics.

The Guardian - AU

Taylor Swift, Pink and Australian Grand Prix boosted national economic activity in March quarter

ABS says spending for the period would have been lower for clothing, merchandise and dining if not for Eras tour

AAP

'We have a plan': state reacts to housing crisis outcry

A real estate body has called on authorities to provide an accountable delivery plan, describing the Queensland's housing crisis as "woeful".

The Guardian - AU

Migration has been blamed for the housing crisis, but it’s not that simple

Cutting permanent migration and capping student numbers won’t help much – but experts say it could hurt a whole lot

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Crikey

Israeli airstrike on Rafah tent camp kills dozens

An Israeli airstrike in Rafah, where displaced people were staying in a tent camp, has reportedly killed at least 45 people. And more than 2,000 people are presumed buried under earth in Papua New Guinea after a landslide.

Crikey

‘Religious privilege’: Showdown looming between atheists and church groups over census question

Religious organisations are pushing back to a proposed question change in the 2026 census.

The Guardian - AU

Australia’s unemployment rate rises to 4.1% reducing chance of another RBA interest rate hike

Jobless rate increases from a revised 3.9% in March but it’s a mixed picture with employers adding 38,500 jobs overall

Crikey

Neoliberals want an austerity budget, but the economy doesn’t need savage cuts

There’s pressure on Labor to produce a contractionary budget next week. But the economy is already weak as rate rises inflict a huge toll.

The Guardian - AU

Australia’s unemployment rate rises to 3.8% in March as employers shed more than 6,000 jobs

Reserve Bank and Treasury had predicted unemployment rate would rise from February’s 3.7% as interest rates bite

The Guardian - AU

Australians dropping fruit and vegetables from diet amid cost-of-living crisis

ABS data shows changes in grocery consumption, prompting concerns over eating habits and the nation’s health

AAP

New Zealand goes off-piste looking for Aussie tourists

Australians aren't picking New Zealand as a holiday destination as much as they used to - but are spending more when they do.

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