Inflation is well and truly back in the headlines. After years of bemoaning that prices weren’t increasing fast enough, the Reserve Bank of Australia is now grappling with just how soon and how hard it should act to bring inflation under control.
Headline inflation surged to 5.1 per cent in the first three months of the year, and the RBA doesn’t expect it to fall back within its 2 to 3 per cent target range until the middle of next year.