Inflation

[mullokintyre]

Retail sales fell in June, and as per usual, market expectations were a bit out.
Seasonal Adjustments took the sales from a 0.3% growth mom to the 0.8% seasonally adjusted.
Must have been a heck of a season.
Whichever way you look at it, its a contraction once inflation is taken into account.

Australia's June retail trade falls 0.8 per cent on month, undershooting market expectations of no change after an upwardly revised 0.8 per cent rise in May.

"Retail turnover fell sharply in June due to weaker than usual spending on end of financial year sales. This comes as cost-of-living pressures continued to weigh on consumer spending," says ABS head of retail statistics, Ben Dorber.

“There was extra discounting and promotional activity in May, leading up to mid-year sales events. This delivered a boost in turnover for retailers, but that proved to be temporary as consumers pulled back on spending in June.”

The 0.8% rise in May which was adjusted upwards, really means there was no growth when you take into effect inflation.
the trend as they say, is your friend.
The trend blow looks far from friendly to me.
Mick

 

[divs4ever]

Whichever way you look at it, its a contraction once inflation is taken into account.

shssh shssh , that is the quiet part

 

[qldfrog]

Strange that as usually allows me to share/upload - thanks @rcw1 for letting me know ?

Just open it in youtube
I will summarise for you:
Get out now?

 

[waterbottle]

German GDP at 0%.... It's been pretty anaemic since Jan 2021...

 

[over9k]

ECB on record saying more hikes likely and rates staying higher a certainty too.

 

[mullokintyre]

ECB on record saying more hikes likely and rates staying higher a certainty too.

When you look at the 5 year chart for European inflation, it is certainly heading in the right direction.
From a high of 11.5% back in October 2022, it is down to 6.4 in July.
It was last at this level in Feb 2022., so took about 8 months to reach that peak, and took about the same time to revert to the level at the end of June.
I don't know what their target inflation level is, but at this rate they could well be down to 3.5% by the end of this year.
The price of energy will be the killer, and it may well be going up.
Mick

 

[over9k]

 

[waterbottle]

ECB on record saying more hikes likely and rates staying higher a certainty too.

BoJ dumping YCC upper limit

 

[waterbottle]

Soft Landing Optimism Is Everywhere. That’s Happened Before. (Published 2023)

People are often sure that the economy is going to settle down gently right before it plunges into recession, a reason for caution and humility.

nyti.ms

 

[over9k]

BoJ dumping YCC upper limit

Yeah aus 10 year's went nuts this morning (as did most of the long duration stuff right across asia).

 

[waterbottle]

Trucking Giant Yellow Shuts Down Operations https://www.wsj.com/articles/the-fa...y-yellow-is-on-the-verge-of-collapse-3724f662

Perhaps a sign of the times when companies can't keep up with worker demand RE: wages

 

[Dona Ferentes]

One crowd that knows how to ride the curve. From $110 to $313 in 11 years, per penalty unit.

... Tax laws authorise us to impose administrative penalties when you fail to meet your tax obligations.

Penalty provisions are there to encourage all taxpayers to take reasonable care in complying with their tax obligations

Penalty units | Australian Taxation Office

How we calculate penalties, and the penalty unit amounts for the period the infringement occurred.

www.ato.gov.au

 

[farmerge]

One crowd that knows how to ride the curve. From $110 to $313 in 11 years, per penalty unit.

Penalty units | Australian Taxation Office

How we calculate penalties, and the penalty unit amounts for the period the infringement occurred.

www.ato.gov.au

I recently was fined by the ATO for not not having a BAS in on time.
As far as I was concerned it was the fault of the bean counters we use.
They failed to submit it,
When I contacted the ATO about it, they layed the blame right on our shoulders saying it was up to us to make sure they were doing their job. Lesson learned.
Now the bean counters are rung continually till it is done.
Will be changing accountants shortly after this debarcle.

 

[Belli]

One crowd that knows how to ride the curve. From $110 to $313 in 11 years, per penalty unit.

Penalty units | Australian Taxation Office

How we calculate penalties, and the penalty unit amounts for the period the infringement occurred.

www.ato.gov.au

Hehe. Usually penalty units are increased annually by CPI. However, this time it was a May 2022 budgetary decision.

 

[over9k]

Europe continues with SNAFU/FUBAR.

 

[sptrawler]

Well if people are doing it tough, someone had better tell them in my area.
Down at the local shopping forum, the food hall packed, the coffee shops packed the pub/eating venue packed and this is rated as one of the highest unemployment areas in Australia.
So if inflation is on the downward trend, we are in the midst of a new paradigm

 

[frugal.rock]

Well if people are doing it tough, someone had better tell them in my area.

Perhaps they all got a payday loan advance?

Major Centrelink boost coming for these Aussies

Aussies receiving JobSeeker payments will receive a much-needed boost to their payments. Here’s what’s changing.

au.news.yahoo.com

 

[over9k]

Perhaps they all got a payday loan advance?

Major Centrelink boost coming for these Aussies

Aussies receiving JobSeeker payments will receive a much-needed boost to their payments. Here’s what’s changing.

au.news.yahoo.com

$16/fortnight, what a splurge.

Three extra coffees if you want to put it in that language.

 

[Dona Ferentes]

Well if people are doing it tough, someone had better tell them in my area.
Down at the local shopping forum, the food hall packed, the coffee shops packed the pub/eating venue packed and this is rated as one of the highest unemployment areas in Australia.

That would be Mandurah?


And for clarification, it that the Bridge of Sighs or the Bridge of Size midview?

 

[wayneL]

$16/fortnight, what a splurge.

Three extra coffees if you want to put it in that language.

Not if you want almond milk