The level of food inflation in Australia has risen to 1.4% in the December quarter, although it remains moderate when compared to the rapid price hikes of the first half of 2008. The Australian Bureau of Statistics released their figures this morning, with food one of the main contributors to a 0.5% increase to the CPI. The food group inflation of 1.4% was noticeably higher than recent quarters, with the full year-on-year figure at just 1.9%. The most significant contributors to the increase were... ...Read more »