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 »

Inflation data for the year to September was released by the ABS today, with the 5% increase the greatest since 1995 (excluding the period when the GST was introduced). The inflation rate is now well above the 2-3% target range of the RBA but is not expected to stop the central bank cutting interest rates at their next meeting in November. Food inflation for the September quarter was at 1.4%, bringing the yearly rate up to 3.4% - well below the figure seen earlier this year when commodity... ...Read more »