ABS has announced Australia’s CPI for the March 2022 quarter. ABS reported a 5.1% rise in the inflation which is the biggest quarterly rise since the introduction of goods and service tax in 2000. The main reason behind this rise was a 6.6% rise in the prices of vegetables, water, soft drinks and juices up by 5.6%, fruits up by 4.9% and beef by 7.6%.
Prices of other grocery items also moved up in March 2022 quarter. The non-durable household products prices increased 6.7%. These products include toilet paper and paper towels.
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