The ASX 200 is up on lithium, mining and a supermarket chain's good fortune. But a jump in the cost of production inputs threatens to keep inflation higher for longer.
"You've also got to go back to the point of immigration is very helpful at a time of when things are slowing down, because whoever comes into the country, they need somewhere to live, they probably need transport. They use all the things you and I do. That keeps an economy going."Unsurprisingly, given the hosts, the key theme of the summit was the urgent need to raise more revenue to pay for government services.
Ms Ryan, who defeated previous treasurer Josh Frydenberg in the wealthy Melbourne electorate of Kooyong, may not be popular with some of her high-income constituents for also backing the wind-back of stage three."Led by Malcolm Turnbull, and by Scott Morrison and Josh Frydenberg, they were the wrong policy at the wrong time then, and worse now.
Of course, if the increases in interest rates are already working to reduce consumer demand, then many companies may struggle to pass their costs on without losing a lot of sales. So a higher PPI may mean lower profits as much as it signals higher consumer prices."Higher prices for construction outputs, petroleum and energy were compounded by broad-based price increases in services, particularly health and childcare services," the ABS noted.
That's after it released a market update in which it reported a growth in production of spodumene, which is the lithium material used in the production of ceramics, material and glass.In case you missed it, I had this story put to air last night. "For the broader online series, and other categories, the improvement in year-on-year growth has been underway since May."
"In particular, strong price rises for petrol, rent and utilities cannot be muted by a higher cash rate." "We viewed the governor's testimony to the Senate on Thursday as an exercise in not being drawn on the implications of the CPI ahead of the November board meeting," ANZ says. Coles is also up on boosted sales results, as people feeling the pinch switch from eating out to cooking more at home.