Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Australia shakes off ‘Taylor Swift inflation’ fears ahead of Eras Tour concerts in Sydney and Melbourne

“I know all about Taylor Swift inflation as well, myself” Bullock told a news conference in response to a question on whether the huge demand for Taylor Swift tickets was an example of the type of services inflation mentioned frequently as a policy risk by the RBA.

Citing the example of her own children, Bullock said that fans had adjusted their spending elsewhere to afford the tour tickets and associated spending.

“People are deciding what’s really important to them and what’s not as important to them,” Bullock said, after the RBA had earlier held rates steady.

02:10

Taylor Swift impersonator fills void for Philippine ‘Swifties’ after no-show by US megastar

“Clearly, for a lot of people, Taylor Swift is very important.”

Swift begins the first of seven Australian dates in Melbourne on February 17, on a tour where top-price tickets cost A$1,250 (US$814), and many fans are expected to travel long distances to attend – including from overseas.

Michael Johnson, CEO of Accommodation Australia, the trade body representing the hotel industry, said “phenomenal” demand from Swift’s tour had resulted in very high hotel occupancy rates in Sydney and Melbourne, the two cities Swift is playing in, and would likely benefit other hospitality sectors.

“We know that all of the hospitality [industry], restaurants and bars and tourism attractions, all benefit, because people won’t only come for one night, sometimes they’ll come for two or three, and they’ll do some of those activities and events that are popular in the respective cities that they’re in,” he said.

Bullock, who took over as RBA governor in September, said the central bank’s rate rises could have had an indirect impact on services price inflation, including things like electricity and

Read more on scmp.com