Australian inflation hits a post-1990 peak.
Inflation in Australia rose to a new 32-year high of 7.8% in the final quarter of the fiscal year of 2022.
Inflation in Australia rose to a new 32-year high of 7.8% in the final quarter of the fiscal year of 2022, rising at its steepest pace since March 1990. Economists polled by Reuters had forecast the quarter's consumer price index to rise 7.5%, lower than the Reserve Bank of Australia's forecast of 8%. Prices of goods rose 9.5%, a slightly less dramatic print than the 9.6% from the previous quarter — the cost of services rose 5.5%, the highest since 2008.
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