Inflation hitting the back pocket
Recent figures released by the Reserve Bank of Australia (RBA) show that property owners are hurting because of inflationary conditions in the economy. The rising cost of living is causing households to suffer as any increases in salary or wages are being gobbled up.
ABS figures show the cost of living rose 4.5% last financial year boosted by record petrol prices, the biggest rental increases since 1989, higher bank fees and margins, rising health premiums and the Federal Government’s increase in excise tax.