The Australian economy seems to have just turned a corner that will have major consequences for businesses, people paying off mortgages and political debate.The consumer price index, which measures a “basket” of goods and services for an average household, rose by 3.5 per cent in 2021.
The underlying rate of inflation which adjusts for these one-off impacts rose to 2.6 in 2021, its highest in eight years. Some argue that the RBA should wait for signs that wages are rising strongly before worrying about inflation. The pandemic, of course, is still a huge unknown.The rise in inflation is a global phenomenon and it seems like a solid bet that it is coming to Australia.
NickToscano1 2 before the end of May would be sweet.
NickToscano1 about time
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