03 Mar DOWN, DOWN… ARE PRICES REALLY DOWN?; COFFINS, CROCS AND BOTOX
Welcome to this week’s round up of insights and commentary, brought to you by Team Cannings.
DOWN, DOWN… ARE PRICES REALLY DOWN?
Is the worst of inflation finally over?
The Australian Bureau of Statistics provided some welcome news this week when it revealed the country’s annual inflation rate fell to 7.4 per cent in January from 8.4 per cent in December.
Treasurer Jim Chalmers is confident “the worst of inflation is behind us”. But is he right?
Looking globally, the UK and Eurozone both recorded falls in inflation in January , while the US recorded a slight uptick.
With any luck, we will follow the same path as our European friends.
COFFINS, CROCS AND BOTOX
Earnings season is always so much more than just big profit numbers and share prices. And, February certainly didn’t disappoint in terms of the quirky insights provided by corporate Australia.
Australia’s largest funerals operator, InvoCare, announced it had sunk into the red after struggling to meet demand amid higher coffin costs and labour shortages.
Elsewhere, Silk Laser Clinics chief executive Martin Perelman revealed Aussies would rather cut fashion purchases from their budgets than give up Botox and laser treatments, despite price rises for those essential beauty touch-ups.
Socks, Crocs, and school shoes are also flying off the shelves for Accent Group, whose Subtype, Platypus, Glue Store, and HYPE retail stores enjoyed strong sales in the final six months of 2022.
FROM THE NOT TOO OLD DEPARTMENT…
You aren’t as old as you think. Seriously.
A report commissioned by wealth management company AMP found that instead of four life stages (childhood, teen, adult, old), we now go through six: childhood (0-12), adolescence (13-28), adulthood (29-55), lifestyle (56-64), retired (65-76) and well, old (+77).
According to the report, the reason for the changes in life stages is this: more knowledge-based jobs requiring degrees are pushing back traditional milestones such as marriage, while better healthcare is enabling people to live longer.
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