Annual CPI Inflation: Highest Since September 2023 (And Rising)!

Inflation, which was already about the RBA’s target before the Gulf War spiked up to 4.6 per cent in March driven in part by the Middle East conflict which strangled global oil supply and pushed up petrol prices, and note that the data did not capture the impact of the Albanese government’s halving of the fuel excise, which came into effect on April 1. The unwinding of Government electricity support continued to hit households too. This was the fastest pace of price growth in the economy in more than two years and up from 3.7% prior. This is the first […]