According to the latest data from the Australian Bureau of Statistics (ABS), the Consumer Price Index (CPI) surge 1.9% in the December 2022 quarter and 7.8% annually.
“This is the fourth consecutive quarter to show a rise greater than any seen since the introduction of the Goods and Services Tax (GST) in 2000. The increase for the quarter was slightly higher than the quarterly movements for the September and June quarters last year (both 1.8 per cent)." Michelle Marquardt, ABS head of prices statistics
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