What's Going on in Australia?

The biggest contributor to the annual rise were new homes at 20.4%. Rents also increased, which many of our listeners probably know all too well. Fuel prices went up for everybody from 10.1% to 11.8%, and that was because the government's temporary cut to the fuel excise ended. Even if inflation has peaked in Australia, we're still way above the Reserve Bank's official target of 2% to 3%. Deutsche Bank predicted a global recession could be on the cards as governments struggle to control inflation.