Economists say that bank fees, charges and interest rates are driving up inflation. Inflation rose to 1.5% for the June quarter and 4.5% for the year to June according to figures released yesterday.
Financial service costs rose 10% in the quarter - more than any other sector including food and petrol. Treasurer Wayne Swan said banking costs were a major contributor to inflation. The Australian Bankers Association said banks were just passing on additional costs caused by the global credit crunch.
Posts
Categories
Archive
Crafted with by TemplatesYard | Distributed by Gooyaabi Templates