Aussie inflation deflation

28 Aug

ABC News in Australia reported the following today:

The Australian Unity Wellbeing Index measures the happiness and wellbeing of Australians.

The latest findings have shown that for the first time in seven years, the wellbeing of men is higher that that of women.

Report author Professor Bob Cummins, from Deakin University, found that women are more sensitive to rising costs as they make more of the household purchasing decisions.

Well, that made me curious, seeing how our economy isn’t so hot in the good ol’ US either. So after doing a little research, I found the following in a Wall Street Journal blog by Wendy Pollack:

In addition to the well-documented disparity between men’s and women’s pay, there is a persistent gender gap involving consumer prices. Lately, that gap has been widening, Merrill Lynch economist David Rosenberg tells BusinessWeek. The cost of consumer goods and services targeted at women — including clothes, shoes, cosmetics, jewelry, housekeeping and appliances) have been rising faster than those for typically male products (men’s clothing, sporting goods, televisions, and auto parts and repairs). Using U.S. consumer price inflation data for the past year, Mr. Rosenberg pegs the “female inflation rate” at 3.6% year to year, 18 times the 0.2% rate for men.

Dubs T F? Cause we’re not already at a disadvantage?? Of course, there are some reasons for this. WSJ goes on to say:

There are a number of factors driving the disparity. For starters, women currently are experiencing greater job growth than men, fueling an increase in their consumer confidence to six-year highs. That bolsters demand, and consequently, prices, for the things that women are more likely to purchase.

What’s more, women are marrying later than they used to, or not at all. That affects price inflation because single women spend a greater proportion of their income than single men. Unmarried women also tend to spend more money on themselves than men, according to the Census Bureau’s Consumer Expenditure Survey.

Hmmm…makes you take a little different look when at the mall.

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