But first, the World Food Price Index slipped in May as prices for vegetable oils and dairy products retreated somewhat. Given Australia's taxes are higher, it may surprise readers how low Australia's (and Germany's) minimum wages are, compared to ours.) A week ago it was at 2.74%. A week ago it was at 3.52%, so a +14 bps rise in seven days. That international price was -US$5/bbl lower a week ago.

Source: Stuff June 06, 2022 05:17 UTC