Early Edition with Kate Hawkesby

Tim Dower: The party's almost over in printing money

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Sinopsis

I was holding my breath for a moment listening to our 2 o'clock news yesterday.In the end, the interest rate didn't go up, but the flag's been raised and the printing of money is coming to an end; the party's almost over.You've probably noticed signs of inflation in your supermarket shop, a couple of things I buy regularly have sneaked up all of a sudden.That big pack of toilet roll jumped by a dollar, from $8 to $9, only a dollar, but it's still a 12 and a half percent hike.Dog food has gone up 50 cents a bucket, and sure, it only works out to a few dollars more every week, but in percentage terms it's quite a hike.Even a small coffee has sneaked up to 5 bucks from 4.50, that's well over 10 percent.Petrol is up more than 20 cents a litre since last year, 95 is at least $2.35, the average over 2020 was $2.11 a litre.You might say that's just a return to normal conditions.I saw broccoli priced at $4.99 a piece yesterday, I think that's a record, and cauliflower is off the charts, I've seen an asking price of 8