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When Labor’s Anthony Albanese began the election campaign saying “everything is going up except your wages”, he wasn’t literally correct. Wages (on the official data) were climbing at an annual rate of 2.3%.
But he has effectively been proved right after all. The inflation figures released yesterday show consumer prices climbing at 5.1%, the highest rate in two decades. If wages continue to grow at just 2.3%, they will be climbing at half the pace of prices, sending the living standards of wage-earners backwards.
As John Hawkins writes this morning, it’s the cost of housing (up a barely-precedented 13.7% over the year) and the cost of petrol, up an astounding 35.1%, that are doing the most damage.
For mortgage-holders, and for a Coalition government fighting for re-election, it might be about to get even worse. The Reserve Bank board meets on Tuesday to consider pushing up interest rates, in a bid to get inflation under control.
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Peter Martin
Section Editor: Business + Economy
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John Hawkins, University of Canberra
Inflation is well outside the Reserve Bank’s target band and higher than it has been for two decades.
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Kate Griffiths, Grattan Institute; Adam Graycar, University of Adelaide; A J Brown, Griffith University; Gabrielle Appleby, UNSW Sydney; Yee-Fui Ng, Monash University
Our experts rated the Coalition’s model as either very unsatisfactory or a fail. Most agreed Labor’s proposed model is much better, but said a lot more detail is needed.
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Michelle Grattan, University of Canberra
“The world has moved past Matt Canavan,” David Littleproud declared on Wednesday, tossing his colleague and former resources minister firmly under the bus as the “climate wars” exploded within the Coalition
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Mark Diesendorf, UNSW Sydney
In 2000, fossil fuels were 80% of total energy consumption. In 2019, they were 81%. Renewables are simply not growing fast enough. It’s time to talk about cutting energy consumption.
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Camilla Nelson, University of Notre Dame Australia
For the first time, only one novel has been shortlisted, amid works of poetry, essays and graphic fiction. They tackle big issues - racism, grief, sexual abuse - but are leavened by joy.
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Clare Collins, University of Newcastle
A new study on intermittent fasting didn’t find much of an effect, but the participants usual diet patterns may have something to do with it.
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Cher McGillivray, Bond University
It’s only when the characters learn how to embrace all of their emotions that they can become their true, authentic selves.
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Politics + Society
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Benjamin Clark, The Conversation
In this episode of our election podcast Below the Line, our expert panel speak to former independent MP Cathy McGowan about the independent candidates seeking office.
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Emma Shortis, RMIT University
Whichever party wins the May election will only have six months until the American mid-term elections in November.
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Tess Newton Cain, Griffith University
We talk about the Pacific ‘neighbourhood’, but too often Australia’s approach to the region has been of saying what we’re going to do, rather than how – and listening to the people it most affects.
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Michelle Grattan, University of Canberra
Michelle Grattan speaks with independent economist Saul Eslake on whether the reserve bank will next week raise interest rates for the first time in an election campaign for the first time since 2007
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Vanessa Teague, Australian National University
Australians vote on a piece of paper and put that into a box which is then counted. We don’t know how to replicate this transparent, verifiable process over the internet.
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Health + Medicine
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Ria Hopkins, UNSW Sydney; Natasa Gisev, UNSW Sydney
New national standards aim to change doctors’ prescribing habits for hospital patients with pain when they’re discharged home. But clinicians also need to ensure patients’ pain is well managed.
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Hamish John Wilson, University of Otago
Studies show if medical staff talk about potential side effects in negative terms, the patient’s experience can worsen. We need to consider this ‘nocebo’ effect when talking about COVID vaccinations.
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David Caldicott, Australian National University
Pill testing has faced a setback in Australia with insurers withdrawing insurance from Groovin the Moo festival in Canberra.
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Science + Technology
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Ritesh Chugh, CQUniversity Australia
It’s true that phones aren’t as prone to viruses as computers – but they’re still far from immune.
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Jean Burgess, Queensland University of Technology
The age of the free speech free-for-all is over – but public online spaces are possible.
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Business + Economy
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Mark Humphery-Jenner, UNSW Sydney
To complete his deal, Elon Musk now needs the nod from a majority of Twitter’s shareholders and US corporate regulators.
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Featured jobs
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— Canberra ACT, Australia
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Featured Events, Courses & Podcasts
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— Victoria, Australia — The Conversation
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— 20 Carlisle St (Cnr Barkly St) + Live Stream Available, St Kilda , Victoria, 3182, Australia — Festival of Jewish Arts and Music
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— The Church of All Nations, 180 Palmerston St, Carlton, Victoria, 3053, Australia — The Conversation
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— UNSW Sydney, Kensington, New South Wales, 2052, Australia — UNSW Sydney
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