Official inflation figures show inflation hitting 7.8 per cent as cost-of-living pressures continue to weigh on household budgets.
Annual inflation hits 7.8 per cent
Inflation rose 7.8 per cent annually in the December quarter as upwards price pressures on goods and services remain strong.
Quarterly inflation lifted 1.9 per cent, according to data from the national statistics bureau.
In the final quarter of 2022, underlying inflation, which excludes large price rises and falls, lifted 6.9 per cent annually.
This is the highest consumer price index increase since 1990.