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 FAAA has secured CSLR-related documents under the FOI process, after an extended four-month wait, which show little analysis was done on how the scheme’s cost would affect financial advisers.
Nearly seven in 10 HNW-focused advisers view alternatives as the asset class that will be fundamental to meeting client demands in the future, according to Praemium.
The Perth-based advice practice has welcomed a private wealth adviser and senior paraplanner to its ranks amid its strategic shift towards wealth transfer strategies.
The number of members expelled from the Australian Financial Complaints Authority almost doubled between 2023 and 2024, according to internal data.
Somehow I don't see my 2.5% pay rise keeping up with that!