1
00:00:00,360 --> 00:00:01,040
Speaker 1: Fray and bread.

2
00:00:01,320 --> 00:00:03,240
Speaker 2: Food price is up four point seven percent in the

3
00:00:03,279 --> 00:00:05,920
Speaker 2: year of October. Melkup thirteen and a half percent, four

4
00:00:05,960 --> 00:00:09,320
Speaker 2: hundred four dollars seventy eight a liter, Cheese up thirty percent,

5
00:00:09,800 --> 00:00:12,440
Speaker 2: eggs up eighteen and a half percent, almost ten bucks

6
00:00:12,480 --> 00:00:14,880
Speaker 2: a dozen. Now instant coffee was up twenty five percent.

7
00:00:14,880 --> 00:00:17,360
Speaker 2: But that's discussing anyways. So who cares Brad Olsen infa

8
00:00:17,360 --> 00:00:20,279
Speaker 2: Metric's principal economist, isn't they? Hey, Brad, good afternoon. So

9
00:00:20,720 --> 00:00:21,920
Speaker 2: surprice is still going up.

10
00:00:22,239 --> 00:00:24,880
Speaker 1: Yeah, life is still pretty expensive. That The good news

11
00:00:24,920 --> 00:00:27,360
Speaker 1: is as we head into summer, you're seeing some areas

12
00:00:27,440 --> 00:00:30,440
Speaker 1: of relief, the likes of fruit and vegetables becoming a

13
00:00:30,440 --> 00:00:32,760
Speaker 1: bit cheaper as we get into that better growing season.

14
00:00:32,800 --> 00:00:35,360
Speaker 1: But look, as you're thinking of, you know, Christmas sort

15
00:00:35,360 --> 00:00:37,559
Speaker 1: of lunch or dinner, I don't think you're going to

16
00:00:37,560 --> 00:00:40,000
Speaker 1: be wanting to put the likes of mince paddies or

17
00:00:40,040 --> 00:00:42,760
Speaker 1: steak on the barbie or ething, given that those have increased.

18
00:00:42,760 --> 00:00:44,519
Speaker 1: In fact, a couple of months ago, right, we were

19
00:00:44,520 --> 00:00:47,080
Speaker 1: talking a lot about butter. Mince now the new butter

20
00:00:47,159 --> 00:00:49,320
Speaker 1: in a sense, given that though that's increased I think

21
00:00:49,360 --> 00:00:51,680
Speaker 1: it's now twenty three bucks of kilo for that, So

22
00:00:51,800 --> 00:00:54,680
Speaker 1: your staples are still really expensive. They continue to go up,

23
00:00:55,240 --> 00:00:57,440
Speaker 1: so still pretty challenging for a lot of household.

24
00:00:57,120 --> 00:00:58,280
Speaker 2: How are you saying go vegan?

25
00:00:59,160 --> 00:01:02,959
Speaker 1: No, I'm saying maybe shop around, because while the likes

26
00:01:02,960 --> 00:01:05,640
Speaker 1: of beef and lamb and even fish has increased, the

27
00:01:05,840 --> 00:01:08,960
Speaker 1: likes of pork and chicken hasn't shifted all that much,

28
00:01:09,240 --> 00:01:11,639
Speaker 1: so that there's a little bit of option on the table.

29
00:01:11,680 --> 00:01:13,280
Speaker 1: The one that worries me though, that we don't talk

30
00:01:13,280 --> 00:01:16,039
Speaker 1: about a lot, is the fact that electricity price inflation

31
00:01:16,160 --> 00:01:18,520
Speaker 1: is currently running it as fastest since nineteen eighty nine.

32
00:01:18,600 --> 00:01:21,200
Speaker 1: Like that stuff's really starting to hit households and you

33
00:01:21,240 --> 00:01:22,080
Speaker 1: can't avoid that.

34
00:01:22,000 --> 00:01:24,560
Speaker 2: Cost, right, So what does this do to the overall

35
00:01:24,560 --> 00:01:27,080
Speaker 2: inflation number? Before the end of the year, we were

36
00:01:27,080 --> 00:01:29,320
Speaker 2: going to hit three percent over three percent.

37
00:01:29,360 --> 00:01:31,360
Speaker 1: Well we're there at the moment. We expect things to

38
00:01:31,360 --> 00:01:34,000
Speaker 1: come down, but that's more because yes, you've got the

39
00:01:34,080 --> 00:01:36,679
Speaker 1: likes of your food price inflation that's still running hot.

40
00:01:36,720 --> 00:01:39,840
Speaker 1: Electricity and similar as well. The challenge that I think

41
00:01:39,840 --> 00:01:41,920
Speaker 1: I'm finding when you look at the headline numbers, the

42
00:01:42,000 --> 00:01:44,720
Speaker 1: price of like a couch or your you know, fridge,

43
00:01:44,800 --> 00:01:47,000
Speaker 1: or a phone or similar are coming down. That's good,

44
00:01:47,160 --> 00:01:48,800
Speaker 1: but how many of those are we buying each week?

45
00:01:49,160 --> 00:01:52,280
Speaker 1: It's the really essential stuff that you're paying very very frequently.

46
00:01:52,360 --> 00:01:55,200
Speaker 1: You're electricity, your food and similar that's continuing to hit.

47
00:01:55,240 --> 00:01:57,680
Speaker 1: So although headline inflation might be in a better place

48
00:01:57,720 --> 00:02:00,360
Speaker 1: going forward, the cost of living challenge for house holds

49
00:02:00,360 --> 00:02:02,240
Speaker 1: doing it day by day is still going to be tough. Brad.

50
00:02:02,280 --> 00:02:04,920
Speaker 2: Thank you, Brad Lson and for Metrics. For more from

51
00:02:05,000 --> 00:02:08,320
Speaker 2: Hither Duplessy Alan Drive, listen live to news talks it'd

52
00:02:08,320 --> 00:02:11,480
Speaker 2: be from four pm weekdays, or follow the podcast on

53
00:02:11,600 --> 00:02:12,400
Speaker 2: iHeartRadio