A photo of a small sausage roll an Australian was charged $9 for has left Australians angry over “shrinking inflation”.
The disappointed shopper said she bought the sausage roll at a cafe in Cairns, north Queensland, before seeing its size on Wednesday.
“I’m definitely feeling the inflation contraction with this one,” they said.
A photo of the sausage roll, oversized by a napkin, quickly caught the attention of Australians, outraged at regularly paying more for less food.
One wrote: “$8 + $1 for the sauce. As un-Australian as possible.
Another said: “Seriously, nine dollars is ridiculous. »
A frustrated customer has shared the small sausage roll (above) he paid $9 for at a Cairns cafe.
However, not everyone was sympathetic to the idea of some Australians reminding the frustrated customer that the cafe is likely facing increased operating costs.
“Well, don’t buy it next time,” one wrote.
“Small businesses have bills to pay too, you know.
“With the price rise, to make money every day, these companies also have to raise their prices.”
Others accused customers of being too willing to pay inflated prices.
“Every day it’s a similar article. “I can’t believe a pie costs $12 these days!” They charge for it because they are idiots who pay for it,” one commented.
“Yeah but you bought it, didn’t you?” They taught us how it worked in high school,” wrote another.
New data from the Australian Bureau of Statistics shows the consumer price index for August registered at an annual rate of 5.2 per cent, compared to 4.9 per cent in July.
The indicator tracks the cost of purchasing the same basket of goods and services over time.
The overall result was in line with market consensus forecasts of 5.2 percent.
ABS head of price statistics Michelle Marquardt said inflation remained subdued when volatile items such as fuel, fruit and vegetables and travel were removed.
“Excluding these volatile elements from the monthly CPI indicator, the 5.5 percent annual rise in August is lower than the 5.8 percent annual rise in July,” she said on Wednesday. .
Housing, transportation, food and insurance were the main drivers of the annual increase.
House prices continue to moderate, with new home prices recording their smallest annual increase since August 2021, as the cost of building materials falls.
Rent prices, however, continued to rise to reflect a tight market, rising from 7.6 per cent in July to 7.8 per cent in the 12 months to August.
Higher fuel prices are widely expected to translate into a stronger overall result.
Automotive fuel prices rose 13.9 percent from 12 months ago, up 9.1 percent in August.
Annual fuel prices have been particularly volatile in recent times, the ABS noted.
“This month’s price increases, combined with base effects, saw the annual movement of automotive fuels increase by 13.9 percent in August, compared to a decline of 7.6 percent in July,” Ms Marquardt said. .
Electricity prices increased by 12.7 per cent and gas prices by 12.9 per cent per year, reflecting wholesale prices, although the ABS once again said the relief in energy bill softened the shock.
Food and non-alcoholic beverages also slowed further, increasing 4.4 percent in the 12 months ending in August, down from the 5.6 percent annual increase in July.
New data from the Australian Bureau of Statistics shows the consumer price index for August rose at an annual rate of 5.2 per cent, up from 4.9 per cent in July.
There was, however, a lot of variation between different grocery items, with prices of fruits and vegetables falling after growing conditions improved, while prices of bread, dairy and cereals recovered.
The monthly inflation reading will feed into the Reserve Bank’s interest rate decision, with further interest rate rises expected if data suggests price pressures prove persistent.
However, the focus is generally more on the quarterly figures, which will be expected at the end of next month, after the September cash rates call.