Australia has recorded its worst inflation outcome in more than two decades.
Australian CPI rise biggest in more than 20 years
Australia has recorded its worst inflation outcome since the introduction of the country’s goods and services tax (GST) more than two decades ago, potentially locking in an interest rate rise by the central bank next month.
The headline consumer price index rose 1.8 per cent in the June quarter, when the price of a supermarket iceberg lettuce hit $10.
This pushed the annual inflation rate to 6.1 per cent.
“The annual rise in the CPI is the largest since the introduction of the goods and services tax,” Australian Bureau of Statistics Head of Prices Statistics Michelle Marquardt said on Wednesday.