CPI inflation reaches highest peak since 1990
Consumer price index (CPI) inflation rose by 7.8% in the 12 months to December 2022, according to the Australian Bureau of Statistics (ABS).
Data showed CPI rose 7.8% over 12 months and 1.9% during the December quarter.
ABS said this was the highest annual CPI movement since 1990.
This compared to 7.3% in the September quarter.
“The past four quarters have seen strong quarterly rises off the back of higher prices for food, automotive fuel and new dwelling construction. Trimmed mean annual inflation, which excludes large price rises and falls, increased to 6.9%, the highest since the ABS first published the series in 2003.”
This followed data earlier this month which showed monthly CPI inflation rose to 7.3% in December.
AUTHOR
Laura Dew
Recommended for you
The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted.
After seven weeks of strong growth, Wealth Data analysis shows financial adviser gains are now tapering off and returning to a regular pace.
Count chief executive Hugh Humphrey has said FY25 was a “milestone year” for the business as it completed its Diverger integration, exceeding targets with $5.1 million in cost synergies.
US wealth manager Focus Financial Partners, which includes Australia’s Escala Partners, has appointed a chief strategy officer to fuel further Australian growth.
Somehow I don't see my 2.5% pay rise keeping up with that!