BRUTAL warning for Aussies as annual inflation hits new high

Inflation rose 7.8 per cent yearly within the December quarter as upwards value pressures on items and companies stay robust.

Quarterly inflation lifted 1.9 per cent, based on information from the nationwide statistics bureau.

In the ultimate quarter of 2022, underlying inflation, which excludes massive value rises and falls, lifted 6.9 per cent yearly.

This is the best shopper value index improve since 1990.

The value of products and companies began surging final yr as a consequence of ongoing disruptions from COVID-19, the struggle in Ukraine and powerful post-pandemic shopper demand.

Rising inflation prompted the Reserve Bank to begin mountain climbing rates of interest from a historic low degree of 0.1 per cent.

In the September quarter, headline inflation rose 7.3 per cent yearly and 1.8 per cent over the quarter.

This adopted one other 1.8 per cent elevate over the June quarter.