Annual inflation jumped to a near 33-year high 7.8 per cent in the December quarter, below the Reserve Bank’s 8 per cent forecast, but economists said underlying price momentum cemented more interest rate rises.
Headline CPI was up 1.9 per cent over the quarter, driven largely by significant price rises in both domestic and international travel and accommodation, and a long-flagged increase in electricity bills.
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Ronald Mizen reports on politics, economics, business and the law, with a focus on corporate regulators, lobbyists and investigations from Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
