OIL CRISIS: A SECOND WAVE IS COMING #shorts #australia #inflation #economy

By Scott Kuru

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The price at the bowser is only the FIRST place Aussies are going to feel this. The bigger concern is what happens when higher fuel costs start working their way through the rest of the economy. Transport. Farming. Construction. Deliveries. Groceries. Businesses can absorb higher costs for a while, but eventually some of those costs get passed on to customers. The RBA has already said businesses are reporting cost pressures and some are successfully passing them through. We’re seeing real examples already. Australia Post’s business parcel fuel surcharge is jumping from 6.9% in September to 11.5% in October. ABARES is also forecasting average broadacre farm profits to fall 39% this financial year, with continued high costs weighing on farmers. And THAT’S where fuel prices can become everybody’s problem. Because if higher costs spread through the economy and keep inflation elevated, the consequences could eventually reach something completely disconnected from the servo. Your mo

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