Cost of Electricity, Rent, and Bread All Soaring: Opposition Responds to Inflation Figures

Published on March 27, 2024

The federal opposition has responded to the release of Australia’s official inflation rate, at 3.4 percent, saying inflation across various sectors was much higher. Monthly inflation figures from the Australian Bureau of Statistics (ABS) for February showed inflation held steady on the January figures, coming in at the same level as the previous month. But housing prices rose 4.6 percent, food and non-alcoholic drinks jumped 3.6 percent, alcohol and tobacco surged 6.1 percent, and insurance and financial services soared 8.4 percent. “The monthly CPI indicator rose 3.4 percent in the 12 months to February, following a 3.4 percent rise in the 12 months to January,” the ABS said. “Annual trimmed mean inflation was 3.9 percent in February, up slightly from 3.8 percent in January.”...

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