The good news is that after two years of big rises, wholesale electricity prices have fallen somewhat since mid-2017. The bad news is that prices are still much higher than they have been for most of the past 20 years. And the worse news is that we had better get used to these high prices.
Westpac has some bad news for Australian workers hoping for a decent pay rise. While wage growth may start to pick up in the quarters ahead, Westpac says there is very little for workers to get excited about.
Most of us have a general idea of what inflation means: Stuff gets more expensive. Of course, inflation is a bit more complicated than that. It plays a pretty significant role in your day-to-day finances, from your income to the cost of your milk to how much you'll earn on your retirement savings.
