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  • Writer's pictureThe Cryptic Critic

Higher Prices and Higher Interest Rates

I know that I don’t need to remind you that the prices of grocery items have increased substantially over the last 2 years.

And the increases don’t appear to be slowing down or disappearing either. You would also have noticed that it’s not only grocery prices that have risen; it’s everything else as well! Everything from cars to computers, house prices to insurance, building supplies to beer. Politicians and retailers initially blamed the Covid 19 pandemic for the early increases. Still, latterly everything from the war in Ukraine to the trade impasse with China has resulted in the increased cost of fuel and fertilizer. Higher wages and particularly high-interest rates have also been blamed for skyrocketing prices.

Correct me if I’m wrong, but with every single item in the country increasing, this surely means that we, the hard-working taxpayer or the aged pensioner, must spend more of our wages or our pension to survive! Phillip Lowe, Head of the Reserve Bank, has said that interest rates will continue to rise until inflation is brought under control. Inflation, in part, is caused by the community spending too much money.

To put a meal on my table, to put fuel in my car, to insure my home, to send my kids to school, to pay my rates, or my rent or my house repayments and to have access to electricity and water in my home and to have all the other basic necessities of living. Yes, Mr Lowe, I am spending more than before, quite a lot more!

Maybe what I have just written is an oversimplification of a massive problem. Still, I’m asking you, Mr Lowe, the Prime Minister, the Treasurer and all the politicians on all sides, as well as those overfed banks and businesses, to speedily solve this current impasse that is hurting us ordinary Australians so that we can return to some form of normality and continue to live in our so-called `Lucky Country`!


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