The TD Securities/Melbourne Institute inflation gauge rose 0.1 per cent in May, giving an annualised rate of inflation of 2.6 per cent.
The rise in the inflation index over May followed a 0.1 per cent rise in April. It was the lowest annual increase in the gauge since March 2006.
The trimmed mean of the TD-MI Inflation Gauge, a measure of underlying inflation, rose 0.1 per cent in May, following a 0.1 per cent rise in April.
The trimmed mean rose by 2.6 per cent over the year to May 2007.
Petrol, housing costs rise
Contributing most to the overall increase in the inflation gauge in May were rises in the cost of fuel, groceries and housing.
The price of petrol rose by 2.7 per cent during May.
Price decreases in audio, visual and computing, bread and cereal products, and holiday travel and accommodation partially offset these increases.
TD Securities senior strategist Joshua Williamson said that while the rate of inflation had eased, the underlying inflation risk remained on the upside.
"The deceleration in annual inflation, as measured by the inflation gauge, fits with the recent pattern of the official inflation data, although there is some base effect with annual inflation moderating to its slowest pace in a year," he said.
"However, inflation is not being held lower by softer domestic demand, but rather the ongoing ability of Asia to export cheaper finished goods and further easing in the price of some services, for example, holiday travel and accommodation.
"These trends have been enhanced by the recent strength of the Australian dollar.
"However, the risks to underlying inflation remain to the upside," he said.
"Domestic demand is robust, global policy rates outside of the US are rising, and Australian households and governments are spending freely in an environment of constrained domestic product and labour markets."
Source: AAP
Tuesday, June 05, 2007
Sydney robbed of Monopoly money
THE BAROSSA Valley has taken the top spot in the new Australian version of Monopoly, nudging out some of the nation's most recognised landmarks.
The new Australian “Here and Now” version of the famous Monopoly board was launched this morning, with the Barossa Valley and Adelaide taking residency in the highly sought-after dark-blue property spaces.
While the “Mayfair” space could be bought by players in the original version of the game for $400, players would have to fork out $4 million in Monopoly money to buy the Barossa Valley property.
Barossa’s head of tourism Julian Maul said the placement was a great coup for the South Australian region.
“Monopoly is Australia’s and the world’s best loved game and we have no doubt that this will lift the profile of our beautiful region and be a boost for tourism,” Mr Maul said.
The places on the board were decided in a nationwide poll which recorded nearly 17 million votes earlier this year.
South Australia recorded the largest number of votes with about eight million wanting their favourite landmark in the game.
More than two million of those votes were in favour of having the Barossa Valley as the most expensive property on the board.
The traditional boot, top-hat and dog tokens were also replaced with a ute, surfboard and thongs in the new game.
Western Australian centres Kalgoorlie, Broome and Perth claimed the slightly less expensive green squares, while Victoria’s Sovereign Hill, the Great Ocean Road and Melbourne landed on the yellow squares.
Queensland’s Sunshine Coast and the Great Barrier Reef were placed in the cheapest squares in the game, after a late surge of votes for ACT landmarks Anzac Parade, Lake Burley Griffin and Cotter Reserve.
But the nation’s biggest city, Sydney, didn’t receive enough support from voters and failed to claim a spot on the board, leaving Broken Hill, Tamworth and the Snowy Mountains to represent New South Wales.
Tasmania’s Launceston, Cradle Mountain and Hobart; along with the Northern Territory’s Katherine Gorge, Devils Marbles and Kakadu also made it into the game.
Hasbro’s marketing manager Amanda Blackhall said that although it was the first time in 25 years that the board game maker had revised an Australian edition, the results of the vote were unexpected.
“While the somewhat surprising results will no doubt be disappointing to those that didn’t make it onto the board, there are no real losers in those that did,” Ms Blackhall said.
“To secure any one of the spots on the new Australian board of the world’s most famous game is a great achievement.”
Source: AAP
The new Australian “Here and Now” version of the famous Monopoly board was launched this morning, with the Barossa Valley and Adelaide taking residency in the highly sought-after dark-blue property spaces.
While the “Mayfair” space could be bought by players in the original version of the game for $400, players would have to fork out $4 million in Monopoly money to buy the Barossa Valley property.
Barossa’s head of tourism Julian Maul said the placement was a great coup for the South Australian region.
“Monopoly is Australia’s and the world’s best loved game and we have no doubt that this will lift the profile of our beautiful region and be a boost for tourism,” Mr Maul said.
The places on the board were decided in a nationwide poll which recorded nearly 17 million votes earlier this year.
South Australia recorded the largest number of votes with about eight million wanting their favourite landmark in the game.
More than two million of those votes were in favour of having the Barossa Valley as the most expensive property on the board.
The traditional boot, top-hat and dog tokens were also replaced with a ute, surfboard and thongs in the new game.
Western Australian centres Kalgoorlie, Broome and Perth claimed the slightly less expensive green squares, while Victoria’s Sovereign Hill, the Great Ocean Road and Melbourne landed on the yellow squares.
Queensland’s Sunshine Coast and the Great Barrier Reef were placed in the cheapest squares in the game, after a late surge of votes for ACT landmarks Anzac Parade, Lake Burley Griffin and Cotter Reserve.
But the nation’s biggest city, Sydney, didn’t receive enough support from voters and failed to claim a spot on the board, leaving Broken Hill, Tamworth and the Snowy Mountains to represent New South Wales.
Tasmania’s Launceston, Cradle Mountain and Hobart; along with the Northern Territory’s Katherine Gorge, Devils Marbles and Kakadu also made it into the game.
Hasbro’s marketing manager Amanda Blackhall said that although it was the first time in 25 years that the board game maker had revised an Australian edition, the results of the vote were unexpected.
“While the somewhat surprising results will no doubt be disappointing to those that didn’t make it onto the board, there are no real losers in those that did,” Ms Blackhall said.
“To secure any one of the spots on the new Australian board of the world’s most famous game is a great achievement.”
Source: AAP
Online Banking acceptance increases
The local bank branch as we know it could soon be just a memory with dramatic growth in online banking and use of the internet to pay bills, a survey reveals.
Over the past year, another 1.3 million Australians signed up to do their banking over the internet.
It has been 10 years since internet banking was introduced in Australia, and there are now 8.2 million Australians aged 16 and over going online to manage their money, equivalent to 52 per cent of the population.
The Commonwealth Bank's second e-money survey has found that Australians log into their bank accounts on average twice a week.
Checking balances
The most common reasons for logging in are checking on account balances, checking transaction histories and transferring funds between various accounts.
As well as paying bills, Australians use the internet to pay credit card bills (66 per cent), pay for travel or holidays (60 per cent), pay for entertainment (58 per cent), transfer money to family and friends (57 per cent), and arrange international money transfers (24 per cent).
Almost 40 per cent of Australians prefer online banking to other forms of banking.
Just 27 per cent opt to visit a branch, 20 per cent like using ATMs and just 12 per cent advocate telephone banking.
Last year's survey found that Australians in regional and rural areas preferred to go to their local branches to do their banking, but this year it found there was an equal preference for branch banking and online banking.
Over the past year, another 1.3 million Australians signed up to do their banking over the internet.
It has been 10 years since internet banking was introduced in Australia, and there are now 8.2 million Australians aged 16 and over going online to manage their money, equivalent to 52 per cent of the population.
The Commonwealth Bank's second e-money survey has found that Australians log into their bank accounts on average twice a week.
Checking balances
The most common reasons for logging in are checking on account balances, checking transaction histories and transferring funds between various accounts.
As well as paying bills, Australians use the internet to pay credit card bills (66 per cent), pay for travel or holidays (60 per cent), pay for entertainment (58 per cent), transfer money to family and friends (57 per cent), and arrange international money transfers (24 per cent).
Almost 40 per cent of Australians prefer online banking to other forms of banking.
Just 27 per cent opt to visit a branch, 20 per cent like using ATMs and just 12 per cent advocate telephone banking.
Last year's survey found that Australians in regional and rural areas preferred to go to their local branches to do their banking, but this year it found there was an equal preference for branch banking and online banking.
Builders predict recovery in new housing market
The Master Builders Association says there is room for cautious optimism that the long period of housing weakness in Australia may be coming to an end.
Australian Bureau of Statistics figures show building approvals have risen 8.1 per cent in April to a seasonally-adjusted 12,858, with private-sector free-standing housing approvals up 3.3 per cent.
The association's chief economist, Peter Jones, says if inflation and interest rates are kept in check, a recovery may begin to emerge towards the end of the year.
"Reduced interest rate speculation should enable a recovery to begin to gain traction later in the year," he said.
"This would be very good news, given that we are currently just not building enough relative to population and household formation needs."
Source: ABC
Australian Bureau of Statistics figures show building approvals have risen 8.1 per cent in April to a seasonally-adjusted 12,858, with private-sector free-standing housing approvals up 3.3 per cent.
The association's chief economist, Peter Jones, says if inflation and interest rates are kept in check, a recovery may begin to emerge towards the end of the year.
"Reduced interest rate speculation should enable a recovery to begin to gain traction later in the year," he said.
"This would be very good news, given that we are currently just not building enough relative to population and household formation needs."
Source: ABC
Subscribe to:
Posts (Atom)