We hear a lot about inflation being very low at the moment, just 1.00% in fact for the year to 30 June 2016 but have you thought about what your household’s inflation rate is? Depending on what goods and services you buy, your hip pocket may have been hit a little harder.
A helpful analogy is to think about Australia as the driest inhabited continent in the world. It’s true but try and tell that to the many Australians who have had their houses flooded or collapse into the ocean due to the large winter storms and rainfall through winter and early spring. Then there are the farmers with lost or damaged crops and property this winter season which recorded our second highest winter rainfall ever. Did I mention we are the driest inhabited country in the world?