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Inflation is Crippling

Jurisdiction: Australia; historical economic opinion. Reviewed 27 October 2026.

This is commentary about cost-of-living pressure, originally written during the inflation concerns of 2022. Personal examples are not current price data or forecasts. The factual explanation below was reviewed in October 2026.

Why does the same shopping cost more?

My frustration is simple: when everyday essentials cost more and my income does not keep pace, the same budget buys less. A single price increase is not itself the national inflation rate. Inflation measures a broader change in prices, commonly using the Consumer Price Index.

What drives inflation?

The RBA describes demand pressures, supply costs and inflation expectations among the main mechanisms. Real events can act through several channels. Reducing the explanation to “more demand or less supply” can miss how costs, expectations and the broader economy interact.

What is the policy aim?

Australia’s inflation target is 2–3 per cent, with policy aimed at low and stable inflation. It is not a promise to make inflation as close to zero as possible, nor a guarantee that wages will always rise faster than prices. Slower inflation also does not generally mean the earlier price increases reverse.

The personal concern

I would like decisions about housing, wages and transport to give more weight to people’s time and wellbeing. That is a policy preference, not a prediction that a particular intervention will work. The earlier unverified Belgian wage forecast and sweeping claims about everyone being worse off than a decade earlier have been removed. Compare wages and prices over a specified period using the relevant ABS measures before drawing those conclusions.

What would make everyday life more affordable and secure for you?

Sources and further reading

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