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Inflation

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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.

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
 
over9k said:
ECB on record saying more hikes likely and rates staying higher a certainty too.
Click to expand...
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
 
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
Click to expand...

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.
 

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


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