The price of everything has out-paced incomes for a decade. And over the past 12 months, it’s gotten worse.
Add articles to your saved list and come back to them any time.There’s a link between that high-priced puppy you bought to get through the COVID pandemic and the mortgage pain you’re feeling from the Reserve Bank.
So, over the past decade, the intensity of cost-of-living pain has depended very much on your spending patterns. The next-largest is food and non-alcoholic drinks , followed by transport and then recreation and culture . Over the past decade, veterinary services costs have climbed by almost 48 per cent – faster than property rates, insurance and tertiary education fees. The overall inflation rate for all goods and services for the period is 29.5 per cent.Our pets aren’t the only reason for inflation pressures. The largest price increase over the past decade has been tobacco, up a staggering 211 per cent.
That means if a business is going to keep a lid on their prices, they have to look elsewhere. And the largest expense for most firms is their staff.
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