Inflation equals post-GST high with prices rising 6.1 per cent

Inflation over the year to June hit 6.1 per cent, which is the highest level in 21 years, since the GST was introduced.

Without the impact of that tax, you have to go all the way back to December 1990 to find a steeper annual level of consumer price increases - inflation was 6.9 per cent the year before the "recession we had to have". "The recent drop in crude oil suggests that automotive fuel inflation will slow sharply over coming quarters," noted Marcel Thieliant from Capital Economics."Admittedly, with both wholesale gas prices and wholesale electricity prices around five times their 2021 average, utilities inflation will pick up."

Central Banks and policy makers made huge mistake of printing over-needed money and misjudged the inflationary risk a few years ago (ignoring investors and economics' warnings for up 1 year) and now it's poor citizens to pay back time.

Is that 5%plus the 6% or just 6% including the 5%.All the rich ones will be rubbing their hands with glee. Still no rational explanation as to why. DONT USE UKRAINE.

So all the workers that got the payrise of 5 odd % now get it bump up to 6% so they not taking a step backwards?

But jimbo and albo had a plan?

Yep can’t have a war on carbon dioxide and not expect the price of everything to go up. Not like everything including food is dependent on fossil fuels… oh wait! Mass starvation incoming…. Oh sorry I meant climate refugees.

Welcome to a taste of a future Renewables-World. Even Albo gets this Prime Minister Anthony Albanese says 'banning fossil fuel exports and new coal and gas mines to try and reduce climate emissions won’t stop global warming but would devastate the Australian economy'

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