Australia’s inflation rate surges at the fastest rate in more than three decades one day after the Budget as cost of living increases by 7.3%
- Australia’s inflation rate has surged by 7.3 per cent – fastest pace since 1990
Australia’s inflation rate has surged by 7.3 per cent – the fastest pace in 32 years.
The cost of living crisis is worsening with new data released only a day after the Budget warned of more pain to come from electricity prices to food.
Headline inflation in the September quarter climbed at the fastest annual pace since June 1990.
The consumer price index is more than double the Reserve Bank’s 2 to 3 per cent target, meaning more interest rate rises are likely in 2022 and possibly 2023.
Australia’s inflation rate has surged by 7.3 per cent – the fastest pace in 32 years.
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