Q2 2022

Q2 2022

July 27, 2022

The headline CPI (unadjusted) rose 1.8% in Q2 2022, taking the annual inflation rate to 6.1% (the highest level since Q2 2001). Annual trimmed mean inflation, which is the RBA’s preferred inflation gauge, rose to a new record high of 4.9% (since Q2 2003). This is significantly higher than the upper bound of the RBA target range of 2-3%.

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