Well, I was going to post this as “there’s bugger all analysis here” - because my initial take was Michael Janda had just regurgitated this ABS release. I was wrong though, as he does try to extrapolate a little of what this might mean. In particular he rightly asserts the larger impact this is likely to have on lower income households.
Altogether though, once again, ‘analysis’ is too stronger ‘classification’ for this type of journalism (the ABC article in question). Essentially it’s a reasonably long article (800 odd words) which largely just repeats the findings in the ABS release of yesterday.
If Greg Jericho was to write an article on the same topic over on the Guardian he probably would have used multiple ABS data sets to compare say these inflation figures with average incomes, or household wealth, or some such, over the same period (2005-2020). And then you could comfortably say some analysis has been done..
Greg did recently do an article on wages, and inflation adjusted wages, which reinforce that if inflation is indeed ‘averaged up’ to, say, 2% (as the ABS analysis suggests) then real wages definitely seem to be going backwards, and have been for some time.
Buggered if I know 😃 😛