What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
If commodity prices are no longer going up then food prices in the grocery store will no longer go up, at some point.
All of us as consumers have gotten spoiled, ... We expect customized goods and services at commodity prices. The only way we can do that is to cut the fat out of our price structure.
If the Fed ceases hiking, against the backdrop of still rising commodity prices, then the Australian dollar will have few reasons for resisting any topside advances.
Petrol price is a deregulated commodity, price of which is decided by our oil marketing companies based on input cost and other parameters.
I am concerned about any attrition in customer traffic at Starbucks, but I don't want to use the economy, commodity prices or consumer confidence as an excuse.