CPI Hits 7.3%
Consumer price inflation has recorded its biggest increase in 32 years, rising to 7.3% annually in the September quarter. Melbourne recorded an annual rise of 7.4%.
The Budget has made way for some positive changes to address cost of living pressures, but it will require industrial relations reform to stop real wage cuts, close the growing gender pay gap and end insecure work.
In this week’s Budget, Treasury has predicted that inflation will rise to 7.75% by the end of the year.
CPI details are made available through the Australian Bureau of Statistics here.
