Inflation isn't the 6.1% they say it is – for many of us, it is much lower
- Written by Ben Phillips, Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), Australian National University
ShutterstockWe learnt last week inflation is officially 6.1% – way above the average over the past 20 years of 2.5%. This is right in the middle of the Reserve Bank’s 2-3% target band.
But although the rate is now 6.1%, not everybody faces it. It depends on what you buy.
And there’s one big anomaly right now.
The...
