Confidence slumps after flood disaster

Confidence slumps after flood disaster

by 0 comments

Staff Reporter

The mood of consumers has darkened significantly following the Queensland floods amid fears that the natural disaster will push up prices and slow the economy.

According to the Melbourne Institute Survey of Consumer Inflationary Expectations, inflation expectations jumped to 4.6 per cent in January, following a decrease of 2.8 per cent in December.

Melbourne Institute research fellow Dr. Michael Chua, said this month’s survey picked up an overwhelming concern with price hikes.

“The impact of the flood is likely to reduce economic growth this quarter; this should reduce the probability of the RBA raising the cash rate,” Mr Chua said.

Staff Reporter

The mood of consumers has darkened significantly following the Queensland floods amid fears that the natural disaster will push up prices and slow the economy.

According to the Melbourne Institute Survey of Consumer Inflationary Expectations, inflation expectations jumped to 4.6 per cent in January, following a decrease of 2.8 per cent in December.

Melbourne Institute research fellow Dr. Michael Chua, said this month’s survey picked up an overwhelming concern with price hikes.

“The impact of the flood is likely to reduce economic growth this quarter; this should reduce the probability of the RBA raising the cash rate,” Mr Chua said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?