The rest of the world is paying very high prices for Australia's mineral and energy exports while import prices, excluding oil, have barely risen over the past few years.
More Quotes from Michael Workman:
Looking further forward, we are expecting slower growth in the quarters ahead as a softening housing market starts to dampen consumer spending growth.Michael Workman
With conditions in the US economy currently ripe for pass-through of higher wage costs to consumers, the upside ahead in wage inflation points to the prospect of higher core CPI inflation.
Michael Workman
We've been importing deflation and exporting inflation.
Michael Workman
The pick up in house price inflation since mid-2005 has the potential to provide further positive impetus to consumer spending in the months ahead.
Michael Workman
Export values for minerals just look too low to us. It may be underestimated or just that the full effect from higher contract prices hasn't fed through yet, though it's been a few months now.
Michael Workman
We are already at the top end but I think the market is a little edgy in front of the CPI number.
Michael Workman
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