Our energy problems are beyond the government’s immediate control but its plans in another area of high inflation will make things worse.
While energy prices have suddenly grabbed the, um, imaginations of political commentators, and the vexed issue of whether a global energy price spike caused by the biggest war in Europe in 75 years is a broken promise by Jim Chalmers, there are nastier problems in this week’s inflation figures for the September quarter.
Specifically, housing construction costs.
New dwelling prices rose 3.7% in the quarter alone, for an annual rise of over 20%. The 3.7% was actually a fall from the June quarter, because the residential construction sector started weakening under the lash of RBA rate rises.
Read more about the dire housing situation.
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https://www.crikey.com.au/2022/10/28/housing-costs-bigger-headache-than-energy/”>