Australia records fastest rise in inflation since the introduction of the GST

Inflation in Australia has reached a degree not seen in many years, recording the second highest quarterly improve because the introduction of the Items and Providers Tax (GST).

New knowledge from the Australian Bureau of Statistics (ABS) confirmed the Shopper Worth Index - in any other case often called CPI - rose 6.1 per cent over the twelve months to the June 2022 quarter.

On a quarterly foundation the CPI rose 1.8 per cent, the second highest three-month bounce because the introduction of the GST.

EXPLAINED:What's inflation? And the way a record-high CPI would possibly have an effect on you

Inflation is roaring at a degree not seen because the early 90s.(Graphic: Tara Blancato)

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