Australia’s cost of living crisis WORSENS with inflation hitting a new 32-year high – making another interest rate rise within weeks almost a certainty
- Australian inflation has hit new 32-year high of 7.8 per cent
Australia’s cost of living crisis has worsened with inflation hitting a new 32-year high of 7.8 per cent.
The consumer price index surged by in the year to December, the steepest since the March quarter of 1990.
This means another interest rate rise on February 7 is almost a certainty with inflation well above the Reserve Bank’s 2 to 3 per cent target.
Australia’s cost of living crisis has worsened with inflation hitting a new 32-year high (pictured is a Woolworths shopper in Sydney’s eastern suburbs)
The Australian Bureau of Statistics has revealed headline inflation touching levels unseen since 1990.
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