Australian house prices stagnated last month, with Sydney and Melbourne seeing price drops. This shift, driven by interest rate hikes, contrasts with the public and political view of housing as an investment rather than a basic need, hindering affordability efforts.
Influential IPPR proposes capping rents at whichever is lower of consumer price inflation or wage growthUK politics live – latest updatesOne of the thinktanks closest to the Labour government is urging ministers to introduce private sector rent controls in England, as the chancellor weighs up how to ease a surge in living costs caused by the Iran war.The Institute for Public Policy Research (IPPR) has published a paper calling for a rent “double lock”, which would link rent increases to either wages or inflation, depending on which was lower. Continue reading...
UK shop price inflation slowed to 1% year-on-year in April, down from 1.2% in March, as retailers applied heavy discounting to clothing, furniture and DIY goods amid weakening consumer confidence. Non-food items turned negative at -0.1%, while food inflation fell to 3.1%. The BRC warned that Middle East conflict impacts are yet to fully feed through to prices. Consumer confidence hit its lowest since October 2023, with retail sales volumes at their weakest since 1983.
Apple's M4 Mac mini base model is sold out across all configurations, driving consumers to eBay where the $599 device lists at $715-$979 depending on condition. The shortage stems from increased demand for on-device AI model running (OpenClaw, ZeroClaw, Anthropic tools) and an industry-wide memory crunch, with higher storage models shipping only in June.
Oil prices fall on ceasefire extension but stay near $100 a barrel as strait of Hormuz remains closedFood price inflation has also picked up again, to an annual rate of 3.7% last month, up from 3.3% in February.Chocolate and confectionery, meat, fish, and soft drinks became dearer, while bread and cereals, and dairy products pulled the inflation rate lower. Continue reading...
