Finance

Minor inflation can be a useful thing as it tends to slow rises in both the cost of goods and wages, making the economy all very manageable. But runaway inflation is diabolical.

Accounting experts have urged Australian small businesses to prepare for the impact of inflation, after official figures confirmed the cost of living has surged at a rate not seen in more than a decade.

There are two paths out of inflation: rate rises or lower government spending. What will it be?

With the RBA cash rate at an all-time low, and an increasing risk that the current inflation will become embedded in expectations, an increase in rates is a matter of “when” not “if”.

Inflation is climbing at an annual rate of 5.1%, according to the latest Consumer Price Index (CPI), up substantially from December's figure of 3.5%, as housing and fuel costs surge.

A new Xero report suggests a pandemic-era boom in small business registrations will lead to millions of new firms by 2031.

"We’re tackling our emissions using a priority framework built upon offsetting, reducing, and removing," writes Canva co-founder Cameron Adams.

"In Australia, a supposedly conservative government created JobKeeper to ostensibly help low paid workers — in reality it was a direct transfer of wealth to business owners," writes Adam Schwab.

While the Australian economy is currently powering along, the International Monetary Fund has confirmed that 2023 is going to be a return to business as usual for Australia — pre-pandemic business, that is.

Last night's debate saw Prime Minister Scott Morrison and Opposition Leader Anthony Albanese rest on their existing economic platforms.

Industry leaders in Western Australia are sounding the alarm over future business insolvencies after the collapse of two home builders.

Sri Lanka's 22 million people are facing 12-hour power cuts, and an extreme scarcity of food, fuel and other essential items such as medicines.