Reported about 1 year ago
Summary of an article from Business and Commerce Commentary on June 10, 2024, discusses how soaring house prices lead to increased rents, affecting inflation rates significantly. The article emphasizes the upcoming Central Bank meeting focusing on monetary policy due to the May inflation rate surpassing 2%. The current inflation is attributed to both local and global factors such as ongoing geopolitical tensions. The fluctuations in international commodity prices and the continuous rise in domestic housing prices are also contributing to the inflationary pressures. The article highlights the concerns of escalating rents and dining expenses impacting the younger population the most, surpassing the average salary growth over recent years. To combat inflation, the Central Bank is urged to address the continuous surge in housing prices and rents by implementing appropriate policies.
Source: YAHOO