Inflation surges as housing and fuel lift consumer price index

 The official measure of consumer price increases has surged, with steep rises in the cost of fuel and new homes driving the increase.

The Australian Bureau of Statistics consumer price index (CPI) jumped 1.3 per cent over the last three months of 2021 to be 3.5 per cent higher over the year.

A 4.2 per cent jump in the cost of new dwellings and 6.6 per cent surge in fuel prices were the main contributors to the bigger-than-expected increase. 

Again, much of the increase in prices was driven by a clash between strong demand and COVID-disrupted supply chains.

Read More: https://www.abc.net.au/news/2022-01-25/inflation-rises-as-housing-fuel-lift-consumer-price-index/100779682



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