United Kingdom

Australia’s cost of living crisis worsens with inflation hitting a new 32-year high

Australia’s value of dwelling disaster WORSENS with inflation hitting a brand new 32-year excessive – making one other rate of interest rise inside weeks virtually a certainty

  • Australian inflation has hit new 32-year excessive of seven.8 per cent
  • Highest shopper value index since March quarter of 1990 

Australia’s value of dwelling disaster has worsened with inflation hitting a brand new 32-year excessive of seven.8 per cent.

The patron value index within the yr to December surged on the quickest annual tempo for the reason that March quarter of 1990. 

This implies one other rate of interest rise on February 7 is sort of a certainty with inflation nicely above the Reserve Financial institution’s 2 to three per cent goal.  

Australia’s value of dwelling disaster has worsened with inflation hitting a brand new 32-year excessive (pictured is a Woolworths shopper in Sydney’s jap suburbs)

The Australian Bureau of Statistics has revealed headline inflation touching ranges unseen since 1990. 

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