Your retirement savings and rapid inflation: managing the cost of living as it rises
Many Australians are struggling to make ends meet with the cost of living continuing to rise and the inflation rate currently sitting at 5.1 per cent, its highest peak in two decades. On May 3, the Reserve Bank of Australia (RBA) announced for the first time in just over a decade, that the low-interest rate of 0.10 per cent would rise to 0.35 per cent to meet the rising cost of living.