The ABS has released Q2 CPI data, which shows that inflation rose by 0.8% over the quarter and by 3.8% over the year – basically in line with analyst’s expectations of a 0.7% quarterly increase and a 3.8% rise year-on-year.
As expected.
The large annual increase in CPI was driven by the ‘base effect’, since CPI fell by 3.7% in the corresponding Q2 quarter of 2020.
