Decoding Inflation In 2022

Decoding-Inflation-In-2022

Things are starting to heat up in the political landscape, and with the impending Federal election in May, one topic has politicians worried.

Inflation.

With most families driving 2 cars, the single biggest cost of living price jump in recent times has been fuel. Unleaded roars towards $2, with diesel not far behind. The flow-on effect for food is obvious. Going grocery shopping and spending less than $300 for a family of 5 seems like years ago.

There can be no doubt that the cost of living has skyrocketed in recent times and families are struggling to make ends meet.

The RBA (who let’s face it has been asleep at wheel) is now talking about rate rises this year rather than 2024. It’s a brave soul that thinks we won’t see interest rate increases this year.

US inflation is running at a decade high of 7%, yet its cost of living is still better than the land down under.

As mortgage brokers, we are not economists. That said, we have an obligation to stay in tune with the economy we work in.

The next few months will be dynamic and unpredictable. As a broker, you need to:

  • stay updated
  • liaise with your clients
  • create a newsletter
  • provide updated rate bulletins

In my opinion, over the next 18 months, our clients will need us more than ever before.

Are you ready to guide them?